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<h1>Banks Recover Rs. 7,975.27 Crore via Asset Sales in Fraud Cases; Major Funds Returned to Public Sector Banks.</h1> A consortium of banks, led by SBI, has recovered Rs. 7,975.27 crore through asset sales related to financial fraud cases involving high-profile individuals. Under the Prevention of Money Laundering Act, 2002, and the Fugitive Economic Offenders Act, 2018, 84.61% of the total defrauded funds, amounting to Rs. 19,111.20 crore, have been attached. Of this, Rs. 15,113.91 crore has been returned to public sector banks, and Rs. 335.06 crore confiscated by the government. These actions address the Rs. 22,585.83 crore loss suffered by banks due to the fraudulent activities of certain individuals.