This state of affairs in public sector banks is a reflection of a general lowering of guard by the vigilance administrators in banks. 19. Our analysis of large value frauds (greater than Rs.
50 crore in value) has thrown up some interesting conclusions like an inordinate delay in declaring the accounts as fraud (Annex 2), covering too many officials in the probe, holding junior officers responsible for frauds etc. We have also observed that in frauds in consortium/Multiple Banking arrangements, while some banks do not find any staff accountability, several others do the opposite(Annex 3).