RTI activist claims 2,480 cases of fraud in PSBs involving over Rs 31,800 crore registered in Q1 FY20

An RTI activist from Neemuch town of the Malwa region has claimed that a total of 2,480 cases of fraud in public sector banks involving more than Rs 31,800 crore have been registered in the first quarter of the current financial year 2019-20.

"I had filed an RTI seeking details of the number of cases of fraud registered in public sector banks from April 1 to June 1 besides the amount involved. I had also asked about the losses incurred in banking fraud cases," said Chandrashekhar Gaud while talking to ANI.

"In its reply, RBI informed that during the first quarter of the ongoing financial year (April 1 to June 30), a total of 2,480 cases of fraud in 18 public sector banks involving an amount of over Rs 31,898.63 crore were registered," he said.

The number of cases registered in State Bank of India (1,197), Punjab National Bank (99) and Allahabad Bank (381) were higher as compared to other banks.

The RTI activist said he had also asked about the losses incurred in these banks.

"In its reply, RBI said it has no information in this regard," said Gaud.