Amount in bank fraud up 159% to Rs 1.85 trn in 2019-20: RBI annual report

28% spike in number of cases; advances account for 98% of total amount involved in frauds

Bank frauds, in value terms involving an amount of Rs 1 lakh and above, have more than doubled in 2019-20 period to Rs 1.85 trillion from Rs 71,543 crore in 2018-19 period, up 159 per cent. In volume terms, however, the total fraud cases have jumped 28 per cent to 8,707 in 2019-20 from 6,799 in 2018-19, revealed the annual report of Reserve Bank of India (RBI) for the year 2019-20.

While the increase in the number of fraud cases and the amount involved is substantial, the RBI has said that the date of occurrence of these frauds is spread