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Three NPA accounts have been declared as fraud and reported to RBI as per regulatory requirement
Indian Financial institution on Saturday stated it had reported over ₹266 crore value of fraud to the Reserve Financial institution, relating to a few NPA accounts.
These non-performing accounts have been declared as fraud and reported to RBI as per regulatory requirement, the lender stated in a regulatory submitting.
It has declared MP Border Checkpost Growth Co. Restricted as fraud with an impressive of ₹166.89 crore; Pune Sholapur Highway Growth (₹72.76 crore) and SONAC (₹27.08 crore). Indian Financial institution stated it had held provisions value ₹12.58 crore towards SONAC. Whereas within the case of different two accounts, the provisions held are equal to all the publicity, respectively.
Supply- thehindu