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Corporate fraud worth Rs 26,757 crores at SBI in just seven months

Corporate fraud worth Rs 26,757 crores at SBI in just seven months

Posted On : Monday, December 2, 2019, 11:38 AM
Corporate frauds worth Rs 26,757 crores have been reported at State Bank of India (SBI), the largest public sector bank of India, in the first seven months of this fiscal year. According to the data disclosed by the SBI itself, the number of frauds at SBI have almost trebled during this period in comparison with the last financial year. The Economic Times has reported that data disclosed in the initial public offering (IPO) document of the SBI Cards suggests that while corporate fraud worth Rs 10,725 crores was reported in whole FY 2018-19, in the current financial year between April and November, SBI has recorded corporate fraud worth Rs 26,757 crores.
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