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Bank Frauds Jump 74% To Rs 71,543 Crore In 2018-19, Says RBI
Frauds in the banking system shot up by 74% to Rs. 71,543 crore Frauds worth Rs. 41,167 crore were reported in FY18 State-run banks accounted for the bulk of frauds
29 Aug 2019, 06:51 PM IST 
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Reserve Bank of India: Average lag between date of occurrence of frauds and its detection was 22 months.
Frauds in the banking system shot up by 74 per cent to Rs 71,543 crore in financial year 2018-19 compared with frauds worth Rs 41,167 crore committed in the financial year 2017-18, the Reserve Bank of India said in its annual report on Thursday. The average lag between the date of occurrence of frauds and its detection by banks was 22 months, the Reserve Bank's report said.
