Delhi oust Mumbai in Bank frauds during Lockdowns
Harish Gupta, National Editor, Lokmat Group
New Delhi, Jan 11
If you thought lockdowns and restrictions during most of the 2020 due to Covid pandemic prevented financial frauds, you may be in for a shock.
A report by the CBI for year 2020 says bank fraud cases more than doubled compared to 2019 from 91 to 196 during 2020. The bank frauds accounted for the maximum number of cases in the CBI- 196 out of 543 total FIRs registered during 2020.
The amount in bank frauds in 2020 was equally mind-boggling at Rs 67,319.40 crore compared to Rs 19,830.14 crore in 2019.
Interestingly, Delhi upstaged Mumbai in bank frauds during 2020. While over 50 bank fraud cases were registered by the CBI, nearly 30 were instituted in Mumbai, apart from some others in Pune and Nagpur and Chennai unit registered 17, Gujarat’s Gandhinagar 16 cases.
Of the total amount of frauds in cases registered by the CBI, Rs 53,379.38 crore (79.29 per cent) were in 27 FIRs only each one with over Rs 500 crore. In 47 cases amounts were between Rs 100- Rs 500 crore, amounting to Rs 9,423.78 crore (13.99 per cent).
The bank fraud cases accounted for over 3% of all cases during 2017 and these started rising jumping to 36 per cent in 2020.
Some of the biggest and noteworthy fraud cases from last year include the massive Yes Bank, DHFL, RKW Developers and Avantha Group, the Surana Corporation and group companies, TDP leader Rayapati Sambasiva Rao-linked Transstroy's Rs 7,926.01 crore alleged fraud and Educomp Solutions' Rs 1,995 crore cases.