Banks reported 44,016 cases of fraud involving Rs 1,85,624 crore in last 11 years

Banks and select financial institutions have reported 44,016 cases of fraud in the last 11 years beginning 2008-09 involving amount of Rs 1,85,624 crore, Rajya Sabha was informed on Tuesday. The year 2016-17 witnessed reporting of 3,927 cases of fraud involving amount of Rs 25,883.99 crore, which was the highest in the last 11 years.

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