Kotak Mahindra Bank on Tuesday pitched at the RBI for a standardisation in fraud reporting, after data showed the private sector lender has been witnessing huge number of such cases. The appeal from Kotak Mahindra Bank came days after reports citing official data said the lender reported 5,278 cases of fraud in the first quarter of FY23, as against only 9 for the nation’s largest lender SBI.The bank clarified on Tuesday that 97 per cent of the overall 5,000 incidents of fraud were due to customers unwittingly compromising their credentials by clicking on unknown links, or giving access to their …
