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CBI raids banks on 7000 crore frauds

CBI raids banks on 7000 crore frauds

CBI raids banks on 7000 crore frauds
November 05
18:47 2019

The CBI has struck again at several locations in India on various instances of bank frauds  and default by big business  leading to huge liquidity

and NPA issues to public sector banks .

It conducted raids 169 locations in many states including Two  Telugu states,Delhi, Jharkhand,Gujarat,Karnataka,Haryana,

Punjab,UP,Tamil Nadu, Uttarakhand,Dadar HaveLi etc.Following default by big customers in repaying loans in  14 banks which are to be merged soon the RBI has ordered CBI probe ahead to fix Responsibility on corrupt officials .

According to CBI sources data is being processed about bank frauds of ₹7000 crores  and  in around eight banks .The raids were in background of PMC fraud which has out thousands of depositors in trouble now.

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