Sunday, March 12, 2017

Bank Frauds : ICICI Bank Tops the list.

Private sector lender ICICI Bank has topped the list of frauds in banks. As many as 455 fraud cases involving Rs one lakh and above were recorded in ICICI Bank in 2016 according to Reserve Bank of India.  State Bank of India came second with 429 such cases, and Standard Chartered with 244 cases at third position.

 SBI has  reported illegal transactions involving more than Rs 2,200 crore while Punjab National Bank saw fraud of Rs 2,250 crore. Axis Bank reported 189 cases of bank fraud in the mentioned period, involving Rs 1,998 crore.

About 450 bank employees have been involved in fraud cases worth Rs 17,750 crore in different public and private sector banks from April to December 2016, the data said. In the case of HDFC, which has recorded 237 such instances, 49 of its employees were involved in these cases.

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