There has been a rapid growth in the banking sector in India. Banking sector plays a major role in growth of India’s economy. However, with the increase in banks’ functionality there is a drastic increment in the frauds. In spite of various observations and regulations being introduced to reduce the frauds, still it is observed that frauds are being committed. This paper aims at studying the number of frauds being committed bank wise, sector wise and its impact on the performance of the banks. A study was conducted on the impact of frauds on Punjab National bank. This study is based on secondary data collected from various reliable sources.
Keywords: Bank, Banking Sector, Financial, Irregularities, Fraud.