In H1FY25, the incidence of fraud and the amount involved have increased substantially.
According to RBI data, over 18,000 incidents occurred, involving Rs 21,367 crore, with the majority of the frauds occurring in the advances.
In H1FY24, there were 14,480 incidents of fraud, with the amount involved being only Rs 2,623 crore.
In FY24, the amount involved in frauds was the lowest in a decade, while the average value was the lowest in 16 years.