The banks reported 44,016 fraud cases involving Rs 1.85,624 cr in the last 11 years
New Delhi, July 9 () Banks and some financial institutions have reported 44,016 cases of fraud in the last 11 years since 2008-09 that involved an amount of Rs 1.85.624 million people, reported Rajya Sabha on Tuesday. .
The year 2016-17 witnessed the complaint of 3,927 cases of fraud with an amount of Rs 25,883.99 crore, which was the highest in the last 11 years, said Minister of State for Finance Anurag Singh Thakur in a written response to Rajya Sabha.
In the following year, the number of these cases increased to 4,228, but the amount involved decreased to Rs 9,866.23 crore.
In 2018-19, 2,836 cases of fraud were reported with an amount of Rs 6,734.60 crore, he said.
During 2012-13, banks and selected financial institutions reported 4,504 cases with an amount of Rs 24,819.36 crore.
The government has taken comprehensive measures to reduce the incidence of bank fraud, including the examination of all NPA accounts exceeding Rs 50 million for any possible fraud, he said in response to a question posed by the bank's leader. BJP, RK Sinha.
In addition, the government has enacted the Fugitive Economic Offenders Act of 2018 to discourage criminals from evading the Indian law process by staying out of the jurisdiction of Indian courts, he said.
The law stipulates the seizure of the property of a fugitive economic delinquent, the confiscation of said property and the misunderstanding of the defense of any civil lawsuit, he added.
In addition, banks in the public sector have been advised to obtain a certified copy of the passport of the promoters or directors and other authorized signatories of companies that have loan facilities of more than 50 million people and decide to publish photographs of the defaulters. intentional.
The heads of these banks have also been empowered to issue requests for Circulars of Surveillance (LOC), he said.
The impact of the previous steps is reflected in the Reserve Bank Financial Stability Report (FSR) of June 2019, he said.
According to FSR, he said that the systematic and exhaustive verification of PSB's NPA stocks to detect fraud has helped to detect frauds committed over several years, which is reflected in a greater number of incidents reported in recent years compared to previous years. .
In response to another question, Thakur said that liquidity in the financial system became a surplus at the beginning of June 2019, after a large injection of durable liquidity by RBI in the previous months.
The surplus/deficit of liquidity in the banking system is reflected in the net amount absorbed/injected by RBI under the Liquidity Adjustment Facility (LAF) and includes the Marginal Permanent Facility (MSF), he said.
According to the RBI data, daily net liquidity progressively improved from an average daily deficit of Rs 70,004 crore during April 2019 to an average daily deficit of Rs 33,400 crore in May 2019. In June there was an average daily surplus of Rs 51,710 crore , He said . The excess liquidity reached a level of Rs 1.39,265 crore as of July 3, 2019, he added. DP DP ANU ANU