Who is the guarantor allowing big bank frauds: Priyanka

Congress leader Priyanka Gandhi Vadra attacked the government on Friday over an RBI report showing bank frauds have gone up by 15 per cent year-on-year in 2018-19, asking who is the guarantor allowing such "big bank frauds".

The number of cases of frauds reported by banks saw a jump of 15 per cent year-on-year basis in 2018-19, with the amount involved increasing by 73.8 per cent in the year, the Reserve Bank of India's annual report showed.

In FY19, banking sector reported 6,801 frauds involving Rs 71,542.93 crore as against 5,916 cases involving Rs 41,167.04 crore reported in 2017-18.

"Country's biggest banking institution RBI is saying that bank frauds are increasing right under the nose of the government. In 2018-19, this theft has increased," Priyanka Gandhi said in a tweet in Hindi.

"Banks have been duped of Rs 72,000 crore. But, who is the guarantor who is allowing such big bank frauds to occur," the Congress general secretary asked.

Congress' chief spokesperson Randeep Surjewala also hit out at the government over the rising number of bank frauds.

"'Loot & Scoot' in 'New India' as a complicit BJP govt looks the other way and the common man is taxed!" he said.