SBI, ICICI bags the most frauds cases

New Delhi March 13: One of the most Leading Bank companies ICICI and State bank Of India have been witnessed the most number of fraud cases in the current fiscal year.

While going to matter, ICICI Bank topped the list of banks that witnessed the most number of frauds in the April-December period of 2016 with state-owned SBI taking the second spot, RBI data showed.

During the first nine months of the current fiscal, as many as 455 fraud cases involving Rs. 1 lakh and above were detected in ICICI Bank, closely followed by SBI (429), Standard Chartered (244) and HDFC Bank (237).



The other banks which reported a large number of frauds to the apex bank during the period include Axis Bank (189), Bank of Baroda (176) and Citibank (150).

In value terms, frauds involving Rs. 2,236.81 crore were reported in SBI, followed by Punjab National Bank (Rs. 2,250.34 crore) and Axis Bank (Rs. 1,998.49 crore).

The RBI data also revealed the involvement of bank staff in frauds.