In the financial year 2020-2021, Maharashtra recorded bank frauds to the tune of Rs 6, 807 crore while Delhi recorded bank frauds amounting to Rs 1,530 crore.
During the April-December period of 2021-22, the amount involved in bank frauds stood at Rs 648 crore, Minister of State for Finance Bhagwat Karad said in a written reply to the Rajya Sabha.
Among the banks, Kotak Mahindra Bank has been hit by the highest number of frauds at 642, involving Rs 1 lakh and above, in first nine months of 2021-22, followed by ICICI Bank and IndusInd Bank at 518 and 377, respectively.
Banks have recovered over Rs 7.34 lakh crore in the last six years and the first six months of the current fiscal year,in non-performing assets and written-off loan accounts, including those reported as fraud, Minister of State for Finance Bhagwat Karad said in a written reply to the Rajya Sabha, the government said in Parliament on Tuesday.
On recovery of fraud amounts, the minister said Rs 55,895 crore have been recovered in the past six financial years and the current financial year up to December 31, 2021, he said.
The minister said the Reserve Bank of India had issued master directions on fraud to banks in 2016 and the government has instituted wide-ranging structural and procedural reforms to check frauds in banks.
He added that these systematic and comprehensive checking of frauds, including the legacy stock of non-performing assets, led to the unearthing of frauds perpetrated over the years.
These steps have helped in a sharp decline in fraud amount from Rs 68,962 crore in 2015-16 to Rs 11,583 crore in 2020-21.
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