Now the news of the fraud in the country’s largest bank State Bank of India (SBI) In the first nine months of the current financial year (April-December 2018), cases of fraud exceeding Rs 7,951.29 crore have been reported. These are connected to 1,885 cases.
In response to the RTI, the SBI has said that 669 cases of FORD activities in the first quarter will be revealed. They are related to the amount of Rs 723.06 crore.
In the second quarter, 660 cases of fraud were reported, which is related to the amount of Rs 4832.42 crore. In the third quarter, 556 cases were reported, which are related to Rs 2,395 crore.
SBI makes provision for an additional amount in new fraud cases every quarter. SBI has said that the RBI guidelines are being followed in all matters related to fraud in this regard. SBI has said that the settlement process is underway for recovery through debt collection tribunals and other mechanisms.
According to RTI worker Chandrashekhar Gaur, the bank has issued these figures on 25th February. Under the RTI, he wanted to know from SBI that how much money is being lost to the bank’s customers for reasons like a fraud?
SBI refused to give such information. The bank cited Section 7 (9) of the RTI Act 2005 for this. Simultaneously, the public sector bank also refused to issue fraud data with the help of phishing / online fraud or debit/credit card.