Focus Merit

Urban Co-operative Banks report nearly 1000 frauds worth Rs. 220 cr

As per the Reserve Bank of India, Urban Co-operative Banks have reported nearly 1,000 cases of fraud worth more than Rs. 220 crore in the last five fiscals. A total of 181 fraud cases, involving Rs 7 crore were noticed during 2018-19. A total of 99 cases involving Rs 9 crore were reported in 2017-18, while 27 such cases involving Rs 9.3 crore during 2016-17. 187 cases of fraud, involving Rs 3 crore were reported in 2015-16 and 478 such cases involving fraud of Rs 19.8 crore during 2014-15.