New Delhi sources stated that three days after RBI stated that banks lost Rs 41,167 crore to fraud in 2017-18; Rahul Gandhi on Monday said that the "watchman" is looting India by helping his close friends, who default on hefty bank loans and flee the country. Meanwhile the Congress party president tweeted, "He (Prime Minister Narendra Modi) is working as a thief by portraying himself as the watchman of the country, who gave away Rs 41,167 crore of bank money to his close aides.
Furthermore the Congress president claimed that with the amount of Rs 41,167 crore, the central government could have waived off the loan of farmers of three states opened 40 AIIMS and run MNREGA for at least one year without any hassle. Moreover current figures show that the cases of fraud are increasing for the last four years 2013-14 saw cases of fraud worth Rs 10,170 crore. Reportedly in comparison, this figure has increased four times in 2017-18.
Earlier in 2017-18, however, fraud related to off-balance sheet operations, foreign currency transactions, deposit accounts, and cyber-activity is important. Hence banks reported more cyber fraud during the year, loss of Rs 109.6 crore in 2,059 cases in 2017-18, compared to 423 crore in the previous year with 1,372 cases".