PSU banks detect frauds worth over 5.2K cr during Apr-Sept

Union Bank of India reported fraud amounting to Rs 656.26 crore, followed by Punjab National Bank (Rs 619.86 crore), Bank of India (Rs 473.45 crore), State Bank of Hyderabad (Rs 429.31 crore), and State Bank of India (Rs 376.97 crore). In all, 28 banks reported these frauds.

As per the data provided by Minister of State for Finance Namo Narain Meena in a written reply in the Lok Sabha, 1,714 cases of frauds were reported in public sector banks in the first half (April-Sept) of the financial year 2012-13. The amount involved in the frauds totalled Rs 5,210.56 crore.

In 2011-12, state owned banks had reported 3,392 frauds involving Rs 4,025.3 crore.

Meena further said that 12,252 employees of public sector banks have been probed in fraud cases since 2009-10 till September 30, 2012.

To another reply, he said that PSU banks have detected home loan scams amounting to Rs 55.4 crore in the first nine months of 2012.

As per the data, there were frauds in the housing loan segment to the tune of Rs 6.77 crore in the Syndicate Bank, followed by Corporation Bank (Rs 6.03 crore) and Allahabad Bank (Rs 4.40 crore) till September 30, 2012.

In all, 288 such banking frauds had taken place till September 30.

During 2011, the amount involved in home loan scams was Rs 180.52 crore crore. There were 596 such incidents in PSBs.