Srinagar, Feb. 5 -- Finance Minister Nirmala Sitharaman provided data on fraud cases across all banks, including Jammu and Kashmir Bank, in response to a question in the Lok Sabha.

As per Kashmir News Observer, the amount involved in these frauds also saw a dramatic decline, dropping to just 2.7% of the total amount from 2022-23. This improvement reflects the bank's enhanced security measures and proactive risk mitigation efforts.

Despite efforts to strengthen security and compliance measures, the bank continues to grapple with varying levels of fraud, with some years seeing alarming spikes in the amounts involved.

The bank reported 13 fraud cases, involving a total of Rs 69.71 crore in 2019-20. In 2020-21, the fraud cases decreased to...