Bank fraud alert! Indian Bank reports frauds worth over Rs 266 crore in three accounts
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Indian Bank has reported over Rs 266 crore worth of fraud to the Reserve Bank India (RBI).
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 requirement, the public sector lender said in a regulatory filing.
The bank 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).
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