New Delhi: The Banks have lost Rs 16,789 Crore due to frauds in the last financial year, The Finance Ministry has said in the Lok Sabha on Friday.
The Reserve Bank of India (RBI) has informed that for the loss of the amount due to fraud, the selection of financial institutions presented by the scheduled commercial banks and as per fraud monitoring report “amounting to Rs. 16,789 Crore” during 2016-17, The Minister of State for Finance Shiv Pratap Shukla said in a written reply, He further said that an interdisciplinary standing committee on cyber security has been constituted by RBI, including education, information security audit, forensic and cyber security experts.
The committee Review among other things suggests threats contained in existing or emerging technologies, and suggested intervention of appropriate policy. In the second reply, he said that during the year 2016-17, various incidents of bank robbery, theft were reported from different parts of the country. The amount involved in such incidents totally about Rs. 65.3 Crore, besides, 393 cases of Rs 18.48 crore have been reported in the first half of the current financial year.
The Shukla said that RBI has advised banks to increase security arrangements in their branches and ATMs from time to time.
In another reply, Finance Minister P Radhakrishnan said that recently the newly duplicate/Fake notes (2,000 and 500 rupees) seized are scanned or photocopied notes. That, Most of these cases, copy notes play similar serial numbers,” he said.
He said that according to the available records, the concerned agencies have not reported any high quality duplicate in notes of new 500 / 2000 denomination banknote as defined in the Unlawful Activities (Prevention) Act.
