Fraud amount up 3 fold in FY25

The overall number of frauds, including those related to loan accounts and digital payments, jumped by three times in FY25, primarily due to reclassification of 122 cases as per a Supreme Court order, the Reserve Bank said on Thursday.

The fraud value jumped to Rs 36,014 crore in FY25, up from Rs 12,230 crore in the previous fiscal year, while the number of fraud cases went down to 23,953 in FY25 from 36,060 in FY24.

Frauds have occurred predominantly in the category of digital payments, including card and internet, in terms of number, and primarily in the loan portfolio or advances in terms of value, it said.

Private sector banks (PSBs) account for nearly 60 per cent of the fraud cases by numbers, while PSBs’ share in terms of value stands at over 71 per cent as of end-FY25, it said.

“While card/internet frauds contributed maximum to the number of frauds reported by private sector banks, frauds in public sector banks were mainly in loan portfolio,” it said.

Frauds related to advances accounted for over 33 per cent of the instances by numbers and over 92 per cent of the value, it said. There were 13,516 frauds by number under the card and internet frauds category as of end-FY25, which was 56.5 per cent of the 23,953 frauds.