SBI has found fraud worth Rs 7,951.3cr in April-December: RTI reply

By: |
Indore | February 27, 2019 9:31 PM

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.

sbi, sbi fraud, RTI, RTI reply, State Bank Group, fraudulent activities, banking newsAccording to RTI activist Chandrashekhar Gaud, the bank shared the data on February 25. (Reuters)

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. 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 February 25. 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.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Arun Alagappan resigns as Chola MD
2HDFC Bank to implement digital action plan in 10-12 weeks
3Yes Bank board to meet on Friday to consider fund raising plan