<p>Banks reported a total fraud of Rs 71,543 crore in 2018-19, a 74 per cent increase as against Rs 41,167 crore in the previous financial year, according to a report by the Reserve Bank of India.</p>.<p>The number of fraud cases reported by lenders also jumped to 6,801 in 2018-19, compared to 5,916 cases in 2017-18.</p>.<p>"Public sector banks accounted for a bulk of frauds reported in 2018-19 -- 55.4 per cent of the number of cases reported and 90.2 per cent of the amount involved -- mainly reflecting the lack of adequate internal processes, people and systems to tackle operational risks," the RBI's report on 'Trends and Progress of Banking 2018-19' showed.</p>.<p>In February 2018, the government had issued a framework for timely detection, reporting and investigation of frauds in public sector banks (PSBs).</p>.<p>It required these lenders to evaluate non-performing accounts exceeding Rs 50 crore from the angle of possible frauds, to supplement the earlier efforts to unearth fraudulent transactions.</p>.<p>This appears to have caused the sharp jump in reported frauds in 2018-19, the report said.</p>.<p>Private sector lenders and foreign banks accounted for 30.7 per cent and 11.2 per cent, respectively, of the total number of reported fraud in 2018-19. Their share in the amount involved in the frauds reported were 7.7 per cent and 1.3 per cent, respectively.</p>.<p>PSBs' share in the value of large frauds was even higher at 91.6 per cent in 2018-19.</p>.<p>In the bank advances category, there were 3,606 number of fraud cases involving Rs 64,548 crore reported in 2018-19.</p>.<p>The banks reported 13 cases of fraudulent foreign exchange transactions worth Rs 695 crore. There were 1,866 fraud cases involving Rs 71 crore related to card or internet transactions. </p>
<p>Banks reported a total fraud of Rs 71,543 crore in 2018-19, a 74 per cent increase as against Rs 41,167 crore in the previous financial year, according to a report by the Reserve Bank of India.</p>.<p>The number of fraud cases reported by lenders also jumped to 6,801 in 2018-19, compared to 5,916 cases in 2017-18.</p>.<p>"Public sector banks accounted for a bulk of frauds reported in 2018-19 -- 55.4 per cent of the number of cases reported and 90.2 per cent of the amount involved -- mainly reflecting the lack of adequate internal processes, people and systems to tackle operational risks," the RBI's report on 'Trends and Progress of Banking 2018-19' showed.</p>.<p>In February 2018, the government had issued a framework for timely detection, reporting and investigation of frauds in public sector banks (PSBs).</p>.<p>It required these lenders to evaluate non-performing accounts exceeding Rs 50 crore from the angle of possible frauds, to supplement the earlier efforts to unearth fraudulent transactions.</p>.<p>This appears to have caused the sharp jump in reported frauds in 2018-19, the report said.</p>.<p>Private sector lenders and foreign banks accounted for 30.7 per cent and 11.2 per cent, respectively, of the total number of reported fraud in 2018-19. Their share in the amount involved in the frauds reported were 7.7 per cent and 1.3 per cent, respectively.</p>.<p>PSBs' share in the value of large frauds was even higher at 91.6 per cent in 2018-19.</p>.<p>In the bank advances category, there were 3,606 number of fraud cases involving Rs 64,548 crore reported in 2018-19.</p>.<p>The banks reported 13 cases of fraudulent foreign exchange transactions worth Rs 695 crore. There were 1,866 fraud cases involving Rs 71 crore related to card or internet transactions. </p>