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SBI has found fraud worth Rs 7,951.3 crore in Apr-Dec: RTI reply

In an RTI reply, the nation's largest lender said, the first quarter reported 669 cases of fraudulent activities, the second quarter saw 660 cases and the third quarter reported 556 cases.

Published: 28th February 2019 12:06 AM  |   Last Updated: 28th February 2019 12:06 AM   |  A+A-

State Bank of India

The logo of State Bank of India (SBI). (File photo | Reuters)

By PTI

Indore, Feb 27 (PTI) The State Bank Group has said as much as Rs 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 Rs 723.06 crore, the second quarter saw 660 cases involving a Rs 4,832.42 crore and the third quarter reported 556 cases amounting to Rs 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 a due to phishing/online/debit/credit cards fraudulent transactions or borrowers engaging in fraudulent activities with the borrowed money.



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