State Bank of India has found fraud worth Rs 7,951.3 cr in April-December: RTI reply

The State Bank Group has said as much as Rs 7,951.29 crore involving 1,885 cases of fraudulent activities have come to light during the first nine months of the current fiscal year

Press Trust of India February 27, 2019 20:21:04 IST
State Bank of India has found fraud worth Rs 7,951.3 cr in April-December: RTI reply
  • In an RTI reply, the SBI said, the first quarter reported 669 cases of fraudulent activities amounting to Rs 723.06 cr

  • The second quarter saw 660 cases involving an Rs 4,832.42 cr

  • The third quarter reported 556 cases amounting to Rs 2,395.81 cr

Indore: The State Bank Group has said as much as Rs 7,951.29 crore involving 1,885 cases of fraudulent activities have come to light during the first nine months of the current fiscal year.

State Bank of India has found fraud worth Rs 79513 cr in AprilDecember RTI reply

SBI. Representational image. Reuters.

In an RTI reply, the nation's largest lender said, the first quarter reported 669 cases of fraudulent activities amounting to Rs 723.06 crore, the second quarter saw 660 cases involving an Rs 4,832.42 crore and the third quarter reported 556 cases amounting to Rs 2,395.81-crore.

According to RTI activist Chandrashekhar Gaud, the bank shared the data on 25 February.

Though he had also sought information about the financial losses to its customers due to these fraudulent activities, SBI refused to share the same saying such information is exempted from disclosure under Section 7 (9) of the RTI Act of 2005.

The bank also did not share details of these frauds such a due to phishing/online/debit/credit cards fraudulent transactions or borrowers engaging in fraudulent activities with the borrowed money.

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