Total frauds at banks rise 74 per cent to Rs 71,543 crore in 2018-19: RBI

"Public sector banks accounted for a bulk of frauds reported in 2018-19 -- 55.4 per cent of the number of cases reported and 90.2 per cent of the amount involved -- mainly reflecting the lack of adequate internal processes, people and systems to tackle operational risks," the RBI's report on 'Trends and Progress of Banking 2018-19' showed.

from Banking/Finance-Industry-Economic Times https://ift.tt/34WbPg6