Gold Silver Reports (GSR) – Banks Fraud Reports, Says RBI’s Financial Stability Report — A study of the composition of frauds, showed that the increase in the number of frauds was driven by credit and debit cards along with internet banking. However, in value terms, advances-related frauds contributed most to the total amount involved.
📌 83 percent of the fraud amount involved in public sector banks was linked to advances
📌 10 percent of the fraud amount was linked to off-balance sheet transactions
📌 3 percent of the fraud amount was linked to foreign exchange transactions
📌 81 percent of fraud amount in private banks was linked to advances
📌 11 percent of fraud amount in private banks was linked to foreign exchange transactions
