On-line banking and ATM fraud circumstances declined by 4.56% in 2020-21 and seven.9% within the following monetary 12 months, the federal government has knowledgeable Parliament.
Minister of state for finance Bhagwat Karad gave the knowledge in Lok Saba on Wednesday in response to a query by Bharatiya Janata Celebration (BJP) member Rahul Kaswan. He added the Reserve Financial institution of India (RBI) has enhanced the safety of digital transactions to test fraud.
Karad mentioned that the Financial institution of India, Financial institution of Maharashtra, and AU Small Finance Financial institution reported zero frauds in 2020-2021. Maharashtra reported probably the most web banking fraud circumstances (26,844) value ₹75.7 crores adopted by Delhi (8,003) amounting to ₹22.09 crore.
Mizoram was the one state that didn’t report on-line banking or ATM fraud circumstances in 2021. Final 12 months, the state reported two such circumstances.