India, July 22 -- Banks and financial institutions reported fraud of Rs 1.42 lakh crore in the last five financial years and recovery to the tune of Rs 6,389 crore was made during the period, Parliament was informed on Tuesday.

In a written reply to Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said his ministry has been apprised by RBI that it is not maintaining information pertaining to the action taken against wilful defaulters.

However, as per data reported by public sector banks, as on March 31, 2026, suits for recovery were filed against 15,577 wilful defaulters and action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act was initiated in 10,894 cases....