During this period, while the volume of frauds has increased by 19.6 per cent from 4235 to 5064, the value (loss incurred) has increased by 72 per cent from Rs. 97.5 billion (Rs. 9,750 crores) to Rs.167.7 billion (Rs. 16,770 crores).
Share of frauds in [loan] advances portfolio continued to be high at 86 per cent of the frauds reported during 2016–17 (in terms of amount involved)…In a number of large value frauds, serious gaps in credit underwriting standards were evident.