Early Times Report
Jammu, July 21: Bank frauds involving more than Rs 1.42 lakh crore were reported across commercial banks and All India Financial Institutions during the last five financial years, while recoveries in fraud accounts stood at Rs 6,389 crore, the Government informed the Rajya Sabha on Tuesday.
In a written reply, Minister of State for Finance Pankaj Chaudhary said that, as per inputs received from the Reserve Bank of India (RBI), frauds amounting to an aggregate Rs 1,42,112 crore were reported during the last five financial years. The figures are based on the date of reporting and include frauds in commercial banks comprising Public Sector Banks (PSBs), private sector banks, foreign banks, small finance banks, payments banks, local area banks, and All India Financial Institutions.
The Minister said that recovery in accounts classified as fraud is an ongoing process. According to RBI data, an aggregate recovery of Rs 6,389 crore has been made from such fraud accounts during the same period.
Replying to another part of the question, Chaudhary said the RBI does not maintain information on action taken against wilful defaulters. However, data furnished by Public Sector Banks showed that, as of March 31, 2026, legal and recovery proceedings had been initiated against thousands of wilful defaulters.
According to the data, PSBs had filed 15,577 recovery suits against wilful defaulters. Action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act had been initiated in 10,894 cases, while 7,173 First Information Reports (FIRs) had been registered against wilful defaulters.
The Minister further informed the House that Public Sector Banks had recovered an aggregate amount of Rs 52,360 crore from wilful defaulters as of March 31, 2026.
The information was provided in a written reply to a question in the Rajya Sabha. |
