Indian Bank reports frauds of over Rs 266 cr in three accounts to RBI
PTI, Oct 30, 2021, 7:59 PM IST
New Delhi: Indian Bank on Saturday said it has reported over Rs 266 crore worth of fraud to the Reserve Bank, relating to three NPA accounts.
These non-performing accounts have been declared as fraud and reported to RBI as per regulatory requirements, the public sector lender said in a regulatory filing.
It has declared M P Border Checkpost Development Co Ltd as fraud with an outstanding of Rs 166.89 crore; Pune Sholapur Road Development (Rs 72.76 crore) and SONAC (Rs 27.08 crore). The frauds have been categorized as diversion of funds in all three cases.
Indian Bank said it has held provisions worth Rs 12.58 crore against SONAC. While in the case of the other two accounts, the provisions held are equivalent to the entire exposure respectively.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
India’s manufacturing growth hits 12-month low in Dec amid softer rise in output, new orders
Stock markets start 2025 on high note, snap two-day decline on buying in bluechips
Rs 2000 notes withdrawal: Rs 6,691 cr worth such notes still with public
Petrol, diesel sales soar on holiday travel
Air India rolls out Wi-Fi service on select aircraft
MUST WATCH
Latest Additions
Thumbay Group to set up First Private Psychiatric and Rehabilitation Hospital in Sharjah Healthcare City
Sachin was not a registered contractor, clarifies KPCC leader
Chinmoy Krishna Das denied bail by Bangladesh court
Minister Priyank Kharge slams BJP for linking him with contractor suicide case
Father-son duo kill neighbour in Nashik; take victim’s severed head to cops to surrender
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.