New Delhi, Dec. 30 -- Despite multiple safeguards and technology-led interventions, fraudsters exploit gaps in the banking system, leading to a sharp rise in the value of bank frauds even as the number of cases declined, according to the Reserve Bank of India's (RBI) Report on Trend and Progress of Banking in India 2024-25 released on Monday.

Bank Fraud Cases Decline, Amount Surges

During 2024-25, based on the date of reporting by banks, the total number of fraud cases fell to 23,879 from 36,052 cases in the previous year. However, the amount involved in these frauds jumped sharply from Rs 11,261 crore to Rs 34,771 crore.

The RBI said the spike in the fraud amount was largely due to the re-examination and fresh reporting of 122 fraud c...