Posted inIndia, South Asia

Punjab National Bank hit by second huge fraud

The Punjab National Bank in India, which was hit by a massive US$2-billion scam last year, has reported a second huge fraud by borrowers – disclosing a 38-billion-rupee ($556 million) hole in Bhushan Power and Steel Ltd’s account. India’s fourth-largest bank informed the Reserve Bank that Bhushan Power and Steel staff misappropriated bank funds and […]

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