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With RBI harping on increased supervision, frauds decline in banking system

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98 per cent of frauds in terms of value were related to loans, and their occurrence was spread over several previous years

Anup Roy

1 min read Last Updated : Dec 31 2020 | 2:41 AM IST

With the Reserve Bank of India (RBI) harping on increased supervision, frauds in the banking system have come down, the data shows. But “operational risk has emerged as a major source of risk.” According to the Trends and Progress Report of the RBI, 98 per cent of frauds in terms of value were related to loans, and their occurrence was spread over several previous years.

“There was a concentration of large-value frauds, with the top fifty credit-related frauds constituting 76 per cent of the total amount reported as frauds during 2019-20.”

Further, “the banking relationship and date of sanction of

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