Number of bank frauds down this year, but fraud amount rises by 194% at ₹36,014 cr
The Reserve Bank of India (RBI) released Annual Report 2024-2025 which depicted a lesser number of bank frauds but saw over 194% increase in the amount involved in the fraud cases with private and public-sector banks.Bank frauds reduced in FY25 but the amount involved went up almost three-fold and most cases occurred in digital payments, said the Reserve Bank of India (RBI) on Thursday. Private-sector banks reported more cases but state-owned lenders contributed maximum to the fraud amount, according to RBI data.In 2024-2025, Indian banks saw a total of 23,953 fraud cases, which was 36,060 in 2023-24.Moreover, while the amount involved in bank frauds was ₹12,230 crore in 2023-24, it spiked to ₹36,014 crore in the latest year.The increase in the amount involved in the total frauds reported during 2024-25 over 2023-24 was mainly due to removal of fraud classification in 122 cases amounting to ₹18,674 crore reported during previous financial years and reporting afresh during the current financial year after re-examination and ensuring compliance with the judgement of the Supreme Court dated March 27, 2023, according to RBI's report.The report further noted that as on March 31, 2025, 783 frauds amounting to ₹1,12,911 crore were withdrawn by banks due to non-compliance with the principles of natural justice as per the judgment of the Supreme Court dated March 27, 2023.
The Reserve Bank of India (RBI) released Annual Report 2024-2025 which depicted a lesser number of bank frauds but saw over 194% increase in the amount involved in the fraud cases with private and public-sector banks.
Bank frauds reduced in FY25 but the amount involved went up almost three-fold and most cases occurred in digital payments, said the Reserve Bank of India (RBI) on Thursday.
Private-sector banks reported more cases but state-owned lenders contributed maximum to the fraud amount, according to RBI data.
In 2024-2025, Indian banks saw a total of 23,953 fraud cases, which was 36,060 in 2023-24.
Moreover, while the amount involved in bank frauds was ₹12,230 crore in 2023-24, it spiked to ₹36,014 crore in the latest year.
The increase in the amount involved in the total frauds reported during 2024-25 over 2023-24 was mainly due to removal of fraud classification in 122 cases amounting to ₹18,674 crore reported during previous financial years and reporting afresh during the current financial year after re-examination and ensuring compliance with the judgement of the Supreme Court dated March 27, 2023, according to RBI's report.
The report further noted that as on March 31, 2025, 783 frauds amounting to ₹1,12,911 crore were withdrawn by banks due to non-compliance with the principles of natural justice as per the judgment of the Supreme Court dated March 27, 2023.
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