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  • Mumbai is number one for banking fraud in country

    http://www.flickr.com/photos/hendry/2796830820/

    Mumbai tops the list of cities with the highest number of frauds reported by banks, with the money involved totalling Rs400 per year for the past five years.

    While for the financial year 2010-11, banks in Mumbai reported 787 fraud cases involving Rs 1,049 crore, the tally for the national capital was 335, with the net amount lost being Rs269 crore, according to the documents obtained under the Right to Information (RTI) Act from the Reserve Bank of India (RBI).

    Interestingly, the total number of banking frauds reported in Mumbai every year is more than those of Delhi, Chennai, Kolkata and Bangalore taken together. While a five year average figure for Mumbai is about 800 cases, the number for other cities is approximately 200. As per the report, of the 4,099 cases registered in Mumbai since 2006, only 564 cases (those where the amount involved is above Rs1 lakh) have been closed.

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