Government misleading Parliament on Bank fraud information

The PIB press release of 22nd February 2013 has provided some data on Bank frauds. According to this press release the fraud information for the last three years were as follows.

bank_fraud_data_2013

The Bankwise data is also available here

According to these figures which it is presumed must have been given to the Parliament in response to a question, the total frauds reported in 2010 was Rs 4048.94 lakhs.

On 30.7. 2010, the Government in reply to a Loksabha unstarred question no 1072 had stated that the total frauds reported in 2010 was Rs 1669.83 lakhs.

It appears that the Government does not have correct figures and it is misleading the Parliament by giving false information on the status of Bank frauds.

Naavi.org had earlier carried a report of DNA Mumbai which had stated that according to an RTI reply from RBI, Bank frauds in 2006-11 in 5 major cities was of the order of Rs 4500 crores. (See report here). It appears that RBI has no proper information on this key performance parameter of the Banking industry.

Will some MP clarify the position?

Naavi

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About Vijayashankar Na

Naavi is a veteran Cyber Law specialist in India and is presently working from Bangalore as an Information Assurance Consultant. Pioneered concepts such as ITA 2008 compliance, Naavi is also the founder of Cyber Law College, a virtual Cyber Law Education institution. He now has been focusing on the projects such as Secure Digital India and Cyber Insurance
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