Bank frauds of ₹1,00,000 and above have more than doubled in value terms to ₹1.85 lakh crore in FY20, the Reserve Bank of India’s annual report showed. The number of such cases increased 28% in the same period. Public sector banks accounted for 80% of the ₹1.85 lakh crore reported as frauds in FY20, followed by private sector banks at 18%. Frauds in loans constituted 98% with other segments like off-balance sheet and cards or internet banking forming much smaller part of it. The top 50 credit-related frauds constituted 76% of the total amount reported as frauds during 2019-20. However, the date of occurrence of these frauds are spread over several previous years. The average lag between the date of occurrence of frauds and their detection by banks and other financial institutions was 24 months during 2019-20. However, the delay was even greater for large frauds of ₹100 crore and above with an average lag of 63 months.