MUMBAI:
This is with reference to the recent media reports/ stories surfacing on ‘IDBI Bank discloses Rs 772 cr pisciculture loan fraud’.
The Bank would like to reiterate that the Pisciculture loans fraud is not a new case. It was detected and disclosed in 2013. It was reported to and duly filed with Reserve Bank of India through fraud monitoring report in 2013.
The bank would like to reiterate that all the Pisciculture loans identified as fraudulent have been fully provided for and there will be no further impact on the profitability/balance sheet of the Bank. The Bank continues to pursue all legal actions to recover dues from the borrowers and has taken action against the erring officers.
more recommended stories
NEW DELHI:Continuing its commitment to enhance.
THIRUVANANTHAPURAM:Prophaze Technologies Pvt. Ltd, a leading.
KOZHIKODE:Pioneering climate tech company Neiox Eco.
NEW DELHI:Punjab National Bank (PNB), the.
GURUGRAM:Air India Group has completed the.
THIRUVANANTHAPURAM:Software startup Amigosia Private Limited has.
THIRUVANANTHAPURAM:nasscom FAYA:80, a knowledge community based.
THIRUVANANTHAPURAM:Leading SaaS provider Zoho Corporation’s Founder.
KOCHI:A three-day intensive bootcamp, part of.
KOCHI:DP World, a leading global provider.
