Andhra Pradesh was among top 5 states in Bank frauds in our country.This was calculated on the basis of financial frauds in public and private banks between 2012-13 to 2016-17.
Data accessed from the Reserve Bank of India (RBI) shows that while the all-India loss incurred due to frauds by 78 commercial banks both public and private was `69,770 crore, Andhra Pradesh banks suffered losses of `2,721 crore from 594 fraud cases. The 78 commercial banks countrywide reported around 22,949 fraud cases during the same period.
The other four states that reported high losses from bank frauds are Maharashtra , 13,164 Cr, West Bengal 9129 Cr, Delhi 6359 Cr and Gujarat 3716 Cr.
Indian banking system got hit by a thunder bolt in the form of Nirav Modi’s fraud of 11,400Cr.Banking systems are now taking steps for its security.
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