Fraud in PSU Banks to the tune of Rs. 95,700 Crores

Fraud in PSU Banks to the tune of Rs. 95,700 Crores

Nirmala Sitharaman
  • From April to September this year (a period of six months) the fraud in the Public Sector Banks in India, has been estimated to be to the tune of Rs. 97,500 crores, as per the reports submitted in the Rajya Sabha.
  • While replying to a question, the Finance Minister Nirmala Sitharaman replied in the Rajya Sabha in writing that as per the reports of Reserve Bank of India, during the six months period from 1st April 2019 to 30th September 2019, the fraud committed in the PSU Banks has been estimated to be Rs. 95,760.49 crores.
  • She also replied that drastic steps are being initiated to arrest the alarming Bank Frauds and that operations in around 38 lakh companies’ accounts have been stopped in this exercise.

No Comments

Give a comment