Govt : No Rise in Bank Frauds

Govt: No Rise in Bank Frauds.The fund service on Tuesday, 4 June, said that there has been no ascent in bank fakes lately, and a Reserve Bank of India (RBI) answer to a RTI question on the issue related to the year in which the cheats were accounted for and not the year when they happened.

The RBI in a RTI answer had unveiled that more than 6,800 instances of bank extortion including an extraordinary Rs 71,500 crore were accounted for in 2018-19 as against an aggregate of 5,916 such cases in 2017-18 including Rs 41,167.03 crore.

“The truth of the matter is that this information is constantly of revealing and not the time of event of the misrepresentation or authorization of credit, letter of undertaking and so on, which as a rule is of a prior period,” the account service said in an announcement.

The RBI information on cheats answered to it by banks has been refered to in segments of the media to illustrate rising fakes in banks as of late, the service said.

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