PSU banks detect frauds worth over 5.2K cr during Apr-Sept

Dec 14 2012, 20:28 IST
Comments 0
SummaryIn 2011-12, state owned banks had reported 3,392 frauds involving Rs 4,025.3 crore.

More than 1,700 fraud cases involving over Rs 5,200 crore were detected in the state-owned banks during the first six months of this fiscal, government said today.

Union Bank of India reported fraud amounting to Rs 656.26 crore, followed by Punjab National Bank (Rs 619.86 crore), Bank of India (Rs 473.45 crore), State Bank of Hyderabad (Rs 429.31 crore), and State Bank of India (Rs 376.97 crore). In all, 28 banks reported these frauds.

As per the data provided by Minister of State for Finance Namo Narain Meena in a written reply in the Lok Sabha, 1,714 cases of frauds were reported in public sector banks in the first half (April-Sept) of the financial year 2012-13. The amount involved in the frauds totalled Rs 5,210.56 crore.

In 2011-12, state owned banks had reported 3,392 frauds involving Rs 4,025.3 crore.

Meena further said that 12,252 employees of public sector banks have been probed in fraud cases since 2009-10 till September 30, 2012.

To another reply, he said that PSU banks have detected home loan scams amounting to Rs 55.4 crore in the first nine months of 2012.

As per the data, there were frauds in the housing loan segment to the tune of Rs 6.77 crore in the Syndicate Bank, followed by Corporation Bank (Rs 6.03 crore) and Allahabad Bank (Rs 4.40 crore) till September 30, 2012.

In all, 288 such banking frauds had taken place till September 30.

During 2011, the amount involved in home loan scams was Rs 180.52 crore crore. There were 596 such incidents in PSBs.

Meena said banks probe staff accountability and their involvement in all the fraud cases. On the completion of the investigation, the commensurate punishment is awarded to the delinquent employees, he added.

In another reply, the minister said Debts Recovery Tribunals (DRTs) disposed of 7,792 cases related to dues of banks and financial institutions involving Rs 13,575 crore till October during this year.

DRTs had disposed of 12,122 cases involving Rs 21,155 crore in 2011.

In yet another answer, Meena said that the ratio of Gross Non-Performing Assets (GNPAs) to Gross Advances in Scheduled Commercial Banks increased from 2.36 per cent in March 2011 to 2.94 per cent in March 2012 and further to 3.57 per cent in September 2012.

Ads by Google

More from Business

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...