Photo: Mint
Photo: Mint

SBI reports fraud worth 7,951.29 crore in Apr-Dec

  • SBI says Q1 reported 669 cases of fraudulent activities worth 723.06 cr, Q2 saw 660 cases involving 4,832.42 cr and Q3 saw 556 cases amounting to 2,395.81 cr
  • SBI refused to share information about the financial losses to its customers due to the fraudulent activities

INDORE: The State Bank Group has said as much as 7,951.29 crore involving 1,885 cases of fraudulent activities have come to light during the first nine months of the current fiscal year.

In an RTI reply, the nation's largest lender said, the first quarter reported 669 cases of fraudulent activities amounting to 723.06 crore, the second quarter saw 660 cases involving an 4,832.42 crore and the third quarter reported 556 cases amounting to 2,395.81 crore.

According to RTI activist Chandrashekhar Gaud, the bank shared the data on February 25.

Though he had also sought information about the financial losses to its customers due to these fraudulent activities, SBI refused to share the same saying such information is exempted from disclosure under Section 7 (9) of the RTI Act of 2005.

The bank also did not share details of these frauds such as phishing/online/debit/credit cards fraudulent transactions or borrowers engaging in fraudulent activities with the borrowed money. 

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