Banking frauds of over ₹100 crore decline by over 50% in FY22: Data

The number of banking sector frauds worth over ₹100 crore declined to 118 in FY22 from 265 in FY21, official data showed. As per data, banks reported cases worth ₹41,000 crore in FY22 compared to ₹1.05 lakh-crore last year. This comes as RBI carried out a study on the implementation of Early Warning System framework in select banks in 2021-22.