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UCBs report nearly 1,000 frauds in past 5 fiscals: RBI

UCBs report nearly 1,000 frauds in past 5 fiscals: RBI

Monday, January 27, 2020, 2:31 PM

Urban cooperative banks(UCBs) have reported nearly 1,000-cases of fraud worth more than Rs.220-crore in the last five fiscals, according to the RBI. Responding to an RTI query, the central bank said a total of 181 fraud cases involving Rs.127.7-crore were noticed during 2018-19. A total of 99 and 27 such cases involving Rs.46.9-crore and Rs.9.3-crore were reported during 2017-18 and 2016-16 respectively, it said.
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