A recent data of the Reserve Bank Of India ( RBI ) says, Industrial credit and Investment Corporation of India ( ICICI ) Bank topped the list of banks that witnessed most number of frauds during April to December period of year 2016 with state-owned State Bank of India ( SBI ) taking the second rank.
According to the data, during the first 9 months of the current fiscal, as many as 455 fraud cases, involving 1 lakh rupees and above, have been identified in ICICI Bank, followed by SBI with 429 cases, Standard Chartered with 244 cases and HDFC Bank with 237 cases.
Nevertheless, when it comes to value terms, frauds involving 2,237 crore rupees were reported in SBI, followed by Punjab National Bank with 2,250 crore rupees and Axis Bank with 1,998 crore rupees.
