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Showing posts with the label Financial scams 2025

Bank Frauds in India: A ₹100-Crore Daily Crisis

India’s banking sector is facing an alarming issue—financial frauds costing the country an estimated **₹100 crore daily**. This crisis not only affects banks but also impacts the economy and public trust. Despite regulatory interventions, loopholes remain, allowing fraudsters to manipulate the system. In this blog, we’ll explore **the mechanisms behind these frauds, their economic impact, and p inotential solutions**. --- ## **1. Understanding the Scale of Bank Fraud in India** Between **2015 and 2022**, over **₹4.50 lakh crore** was lost to fraud, mainly involving loan defaults, cyber crimes, and corporate scams. The Reserve Bank of India (RBI) tracks fraud cases meticulously, but detection and recovery remain sluggish. The financial ecosystem—both private and public banks—has witnessed prominent scandals, leading to stringent regulatory measures. ### **Key Statistics** - **Maharashtra accounts for nearly 50%** of total fraud losses. - Fraudulent activities are **most prevalent in cor...