Indian central bank says banks have been underreporting fraud.

BANKING AND CREDIT NEWS-June 28, 2019--Indian central bank says banks have been underreporting fraud

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Global Banking News - 28 June 2019

The Indian central bank, Reserve Bank of India (RBI), has said that commercial banks in the nation have been underreporting fraud.

The apex bank said that it had found wide discrepancies on how fraudsters are classified by various banks.

It also said that 90.6 percent of frauds reported by banks in 2018-19 occurred between 2000 and 2018.

After finding that many of the frauds were...

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