A Critical Analysis of Frauds in Banks in India (A study of Last Five Years)

Abstract

It is expected that from 2020 to 2024 number of bank users is likely to increase by 50%, in number, 76% of global people have bank accounts which is big achievement. In India Pradhan Mantri Jandhan Yojna was started in 2014 by central government and under this scheme poor people were allowed to open account in banks with zero balance. Result of this scheme is that at present number of bank account is 44.23 Crore and out of these 34.9 crore are with public sector banks, 8.09 crore are with regional rural banks and 1.28 crore are with private sector banks. 100 Million customers are served by 39,734 employees in 5721 total branches.