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| J&K reports Rs 193.49 crore bank fraud in 2025-26 | | |  Mahim Gupta
Early Times Report
Jammu, Aug 3: Even as the number of reported financial fraud cases in Jammu and Kashmir declined significantly over the past three years, the total amount involved surged to Rs 193.49 crore in 2025-26.
According to data furnished by the Reserve Bank of India (RBI) in response to a question in the Lok Sabha, 103 financial fraud cases involving Rs 193.49 crore were reported in Jammu and Kashmir during 2025-26. Banks managed to recover Rs 6.92 crore from the defrauded amount during the year.
The data revealed a steady decline in the number of fraud cases, from 467 cases in 2023-24 to 298 cases in 2024-25, before dropping further to 103 cases in 2025-26. However, the amount involved witnessed a sharp increase—from Rs 47.55 crore in 2023-24 to Rs 81.27 crore in 2024-25, and nearly doubling to Rs 193.49 crore in 2025-26.
Recovery of defrauded funds also improved over the period. Banks recovered Rs 3.23 crore in 2023-24, Rs 2.65 crore in 2024-25 and Rs 6.92 crore in 2025-26.
In neighbouring Ladakh, the RBI reported 18 fraud cases involving Rs 0.07 crore in 2023-24, 13 cases involving Rs 0.03 crore in 2024-25 and eight cases in 2025-26. No financial loss or recovery was reported for the latest year.
The Finance Ministry clarified that the RBI’s data pertains to frauds reported by Scheduled Commercial Banks (excluding Regional Rural Banks) and All India Financial Institutions. It added that the RBI does not maintain records of the amount frozen or refunded to victims of financial fraud.
The Government informed Parliament that banks are required, under the RBI’s Master Directions on Fraud Risk Management, to immediately report fr The data revealed a steady decline in the number of fraud cases, from 467 cases in 2023-24 to 298 cases in 2024-25, before dropping further to 103 cases in 2025-26.
It also noted that there is no fixed timeline for recovery of defrauded money, as such cases often involve multiple agencies, financial institutions, tribunals and courts.
To tackle cyber-enabled financial fraud, the Government said complaints registered through the National Cyber Crime Reporting Portal or the 1930 cyber helpline are processed through the Citizen Financial Cyber Fraud Reporting and Management System (CFCFRMS). The platform enables real-time coordination between police, banks and financial intermediaries to trace transactions and freeze fraudulent funds at the earliest stage.
The Government said funds frozen through the system are subsequently returned to victims through the Money Restoration Module (MRM).
The RBI has also strengthened fraud detection by establishing a Central Fraud Registry and deploying MuleHunter, an artificial intelligence-based tool designed to identify money mule accounts. In addition, the Indian Digital Payment Intelligence Corporation (IDPIC) has been set up to detect, prevent and analyse fraud in the digital payments ecosystem using artificial intelligence, machine learning and big data analytics.
The Centre further informed the Lok Sabha that banks pursue recovery of fraud-related losses through various legal mechanisms, including civil courts, Debt Recovery Tribunals, proceedings under the SARFAESI Act and insolvency proceedings before the National Company Law Tribunal (NCLT). |
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