Banks have reported a massive 73 percent increase in incidents of fraud worth Rs71,543 crore in FY19, a senior Reserve Bank official said Thursday.
Till March 2019, the top five, 10 and 100 cases of frauds cumulatively reported constituted 24 percent, 34 percent and 70 percent of all frauds, respectively, a chief general manager with the RBI Jayant Dash said.
In FY18, the banks had reported frauds worth Rs41,167 crore, he added.