Nagpur: In a major revelation, the Reserve Bank of India (RBI) has disclosed that 1,79,269 cases of bank frauds, amounting to a massive ₹36,361.42 crore, were reported by commercial banks and All India Financial Institutions (AIFIs) during the financial year 2024–25.
The startling data was released in response to a Right to Information (RTI) query filed by Nagpur-based social activist Abhay Kolarkar. It provides a bank-wise breakup of both the number of frauds and the amount involved, highlighting vulnerabilities within India’s banking system.
Top Banks by Number of Fraud Cases:
| Bank Name | No. of Cases | Amount Involved (₹ Crore) |
|---|---|---|
| Axis Bank Ltd | 79,629 | 986.46 |
| HDFC Bank Ltd | 39,822 | 715.96 |
| Airtel Payments Bank Ltd | 19,838 | 75.26 |
| ICICI Bank Ltd | 13,532 | 608.94 |
| State Bank of India (SBI) | 13,835 | 7,700.44 |
| RBL Bank Ltd | 8,610 | 68.27 |
Top Banks by Amount Involved:
| Bank Name | Amount (₹ Crore) | No. of Cases |
|---|---|---|
| State Bank of India (SBI) | 7,700.44 | 13,835 |
| IDBI Bank Ltd | 6,129.57 | 430 |
| Canara Bank | 4,951.69 | 542 |
| Union Bank of India | 3,911.53 | 280 |
| Punjab National Bank (PNB) | 3,782.97 | 2,979 |
| Indian Bank | 2,114.11 | 2,171 |
| Bank of Maharashtra | 942.43 | 292 |
Other Significant Figures:
- Bank of India: ₹7,449.36 crore from just 153 cases
- Yes Bank: 2,814 cases | ₹388.02 crore
- Karnataka Bank: 221 cases | ₹348.94 crore
- Federal Bank: 3,803 cases | ₹79.75 crore
- J&K Bank: 35 cases | ₹198.17 crore
RBI Clarification:
The RBI noted that the data reflects the date of reporting, not the actual date of fraud occurrence. Many of these frauds may have occurred in previous years but were only detected and reported during FY 2024–25.
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15 july 2025
Concerns and Reactions:
The figures have ignited concerns about the robustness of fraud detection systems, especially in private sector banks and payment banks, which reported high volumes of fraud cases, though often involving smaller monetary sums.
Activist Abhay Kolarkar has called for:
- Stricter regulatory oversight
- Real-time audits
- Enhanced accountability within the financial ecosystem
