Question Details

According to the RBI data on frauds reported by PSBs in all categories during FY22, the highest amount of Rs 9,528.95 crore was reported by which of the following Bank?

Options

A

Canara Bank

B

Bank of Baroda

C

Punjab National Bank

D

Bank of India

E

Union Bank of India

Show Answer

Correct Answer :

Option C

Punjab National Bank

Solution :

The correct answer is Punjab National Bank.

Step-by-step Explanation:

According to the Reserve Bank of India (RBI) data on frauds reported by Public Sector Banks (PSBs) in all categories during the financial year 2021-22 (FY22):

1. Punjab National Bank (PNB) reported the highest amount of fraud, totaling Rs 9,528.95 crore, which involved 95 active fraud cases.
2. Bank of India reported the second-highest amount of fraud with Rs 9,186.89 crore (covering 209 cases).
3. State Bank of India (SBI) reported the highest number of fraud cases (2,802 cases), but the total amount involved was Rs 6,932.37 crore, which was lower than PNB's total.
4. Canara Bank reported frauds worth Rs 3,210.02 crore, while Bank of Baroda and other major PSBs reported lower amounts in comparison to PNB.

Therefore, Punjab National Bank is the correct option representing the bank with the highest fraud amount reported in FY22.

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