Jammu, July 21 -- Bank frauds involving more than Rs 1.42 lakh crore were reported across commercial banks and All India Financial Institutions during the last five financial years, while recoveries in fraud accounts stood at Rs 6,389 crore, the Government informed the Rajya Sabha on Tuesday.
In a written reply, Minister of State for Finance Pankaj Chaudhary said that, as per inputs received from the Reserve Bank of India (RBI), frauds amounting to an aggregate Rs 1,42,112 crore were reported during the last five financial years. The figures are based on the date of reporting and include frauds in commercial banks comprising Public Sector Banks (PSBs), private sector banks, foreign banks, small finance banks, payments banks, local area ban...