10 of India's Biggest Bank Frauds in 10 Years

10 of India's Biggest Bank Frauds in the last 10 Years

#1 ABG Shipyard Scam

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#2 Nirav Modi PNB Scam

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#3 Vijay Mallya Kingfisher

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#4 Pawan Bansal Syndicate Bank Scam

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#5 Foreign Exchange Scam

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#6 PMC Scam

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#7 Rotomac Pen Scam

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#8 Chanda Kochhar & ICICI

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#9 Syndicate Bank Scam

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#10 Bank of Maharashtra Scam

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10 of India's Biggest Bank Frauds in the last 10 Years

#1 ABG Shipyard Scam

India's biggest scam till date, the accused cheated banks of Rs 22,842 crores. The scam came to light in 2022.

#2 Nirav Modi PNB Scam

Jeweller and designer Nirav Modi, Mehul Choksi, and few PNB employees defrauded the bank of Rs. 14,000 crores. The scam was unearthed in 2018.

#3 Vijay Mallya Kingfisher

Ex Kingfisher Airlines Chief Vijay Mallya is accused of defrauding various banks of Rs. 10,000 crores. The fraud came to light in 2016.

#4 Pawan Bansal Syndicate Bank Scam

This bribe-for-loan scam was masterminded by CA Pawan Bansal. It was unearthed in 2014 and involved Rs. 8,000 crores worth of sanctioned loans.

#5 Foreign Exchange Scam

In this Rs. 6,000 crore scam, employees of a few banks made illegal remittances from a Bank of Baroda branch to Hong Kong.

#6 PMC Scam

The MD of Punjab and Maharashtra Co-operative Bank (PMC) concealed loan defaults of approx Rs. 6,000 crores taken from HDIL.

#7 Rotomac Pen Scam

Rotomac Pen's promoter Vikram Kothari allegedly defrauded 14 banks of Rs. 3,695 crores. The scam was uncovered in 2012.

#8 Chanda Kochhar & ICICI

Former ICICI CEO Chanda Kochhar and her husband are accused of illegal loan sanctions worth Rs. 1,875 crores.

#9 Syndicate Bank Scam

The bank was defrauded worth Rs. 1,000 crore by 9 individuals who used fraudulent means to make gains.

#10 Bank of Maharashtra Scam

The bank's director along with Director of Siddhi Vinayak Logistics is accused of scamming the bank of Rs. 836 crores.

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