New Delhi: The condition of state-run banks in the country is not hidden from anyone. PSU banks are burdened with heavy NPAs. In order to improve the financial condition of banks, the government had announced the merger of ten state-owned banks in the country. The information provided by RTI reveals the reason behind the poor health of banks.
RTI activist Chandrashekhar Gaur filed an RTI with the Reserve Bank of India and sought information from the bank about bank fraud in the first quarter of the current financial year. According to RBI data, there have been a total of 2,480 cases of fraud with public sector banks in the first quarter of the current financial year.
Banks have incurred a loss of Rs 31,898.63 crore in these frauds. According to the data, the State Bank of India has suffered the most. A total of 1,197 cases of fraud were reported with SBI, in which the bank has suffered a loss of Rs 12,012.77 crore.
After this, Allahabad Bank lost an amount of 2,855.66 crores in 381 fraud cases. PNB also suffered a setback of Rs 2,526.55 crore. Apart from this, almost all government banks including Canara Bank, Central Bank of India, United Bank of India, Allahabad Bank, Bank of Baroda have been victims of fraud.
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