CBI’s crackdown on Bank Fraud cases in Govt Banks: Files over 30 FIRs in 3 months to probe frauds worth 7822 crore

The Central Bureau of Investigation (CBI) has recently launched a massive crackdown on frauds occurring in nationalised banks, both small and big. In the months of May, June, and July, CBI has registered over 30 First Information Reports (FIRs) pertaining to these fraudulent activities.

Many of these cases have been registered under the Prevention of Corruption (PC) act.

Here is a breakdown of the fraudulent amounts reported by the CBI for various nationalised banks during this period:

• State Bank of India: INR 100.49 crore
• Union Bank of India: INR 436.86 crore
• Canara Bank: INR 500 crore
• Bank of India: INR 157.93 crore
• Bank of Baroda: INR 79.11 crore
• Punjab National Bank: INR 124.55 crore
• Other Nationalised Banks: INR 89.78 crore

These figures highlight the alarming scale of financial malpractices within the banking sector. The CBI’s efforts to identify and prosecute those responsible for these frauds are crucial for maintaining the integrity of the nationalised banks and ensuring the protection of public funds.

By initiating these FIRs and focusing on preventing corruption, the CBI strives to foster transparency and accountability within the banking system. It is expected that further investigations will be carried out to uncover the intricate details of these fraudulent activities and bring the culprits to justice.

“The Big One”

Letters written to CBI by Banks reveal, that M/s IL&FS Transportation Network Ltd has defrauded multiple national banks of over Rs 6311 crore. CBI has filed 2 separate FIRs to probe this fraud.

NTO: SUPER DATABASE

Please note that the given data does not include the fraudulent amount for “M/s IL&FS Transportation Network Ltd” as it was mentioned separately.