Business

Allahabad Bank Reports Rs 689-Crore Fraud

   Download Android App    Share in      FullScreen   CheckVideos

Allahabad Bank on Wednesday reported a Rs 689 crore ($100.1 million) fraud related to textile company SEL Manufacturing to the Reserve Bank of India.The fraud is already being heard by the country's company law tribunal, the bank said in a statement, adding that it has made provisions for the bad loan.Earlier this month, Allahabad Bank had flagged a $259 million fraud by bankrupt steelmaker Bhushan Power - Steel Ltd.State-run Punjab National Bank Ltd and Punjab - Sind Bank Ltd have also reported similar frauds amounting to more than Rs 4,000 crore by the steelmaker.($1 = Rs 68.82)Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.

Catch all the Live TV action on TheIndianSubcontinent 24x7 and TheIndianSubcontinent India.

Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.




Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021

Buy Our Merchandise (Peace Series)

 

Contribute US to Start Broadcasting


It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm

STRIPE

Details
Category: Business


20