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3w ago

Reserve Bank Reports Fraud Amount Triples to Rs36,014 Crore in FY25 Even as Cases Fall 33.5%

Compliance with a Supreme Court verdict drove the restatement of 122 cases, spurring the RBI to roll out new digital safeguards.

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Photo: IANS
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Overview

  • Total fraud value jumped 194.4% to Rs36,014 crore in FY25 from Rs12,230 crore despite a 33.5% decline in reported cases to 23,953.
  • Reclassification of 122 past cases added Rs18,674 crore to the FY25 tally after re-examination under a March 2023 Supreme Court judgment on natural justice.
  • Public sector banks accounted for 71.3% of the fraud amount, while private banks led in the number of incidents, recording 59.4% of cases.
  • Loan-related frauds made up over 92% of the total amount lost, and digital payment scams represented 56.5% of the reported cases.
  • The RBI plans to introduce exclusive 'bank.in' and 'fin.in' domains and deploy advanced analytics to bolster fraud detection and digital resilience by FY26.