The Reserve Bank of India has said that public sector banks reported over a 51 per cent fall in the amount involved in frauds to Rs 40,295.25 crore during the financial year 2021-22 (FY22). As many as 12 PSBs (Public Sector Banks) had reported frauds worth Rs 81,921.54 crore in the preceding fiscal 2020-21, the central bank said in response to an application under the Right to Information (RTI) Act.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
However, the number of fraud cases didn’t fall at the same pace as a total of 7,940 frauds reported by the PSBs in 2021-22, against 9,933 incidents reported in FY21, said the RBI’s reply to Madhya Pradesh-based RTI activist Chandrashekhar Gaur.
Key points of the reports:
Important takeaways for all competitive exams:
The Uttarakhand Tourism Development Board has teamed up with Starscapes, an astro-tourism company, to introduce…
In a gesture of solidarity and recognition, Palestinian journalists covering the crisis in Gaza have…
Retired Justice Sanjaya Kumar Mishra has been appointed as the President of the Goods &…
Atanu Chakraborty's re-appointment as part-time Chairman of HDFC Bank for three years, effective from May…
American Express is set to inaugurate its expansive new campus in Gurugram, spanning nearly one…
In the latest edition of the World Press Freedom Index published annually by Reporters Without…