Karnataka Bank on Friday said that it has reported to RBI a fraud in the credit facilities extended earlier to IL & FS Transportation Networks with an outstanding balance of Rs 34.16 crore.
The lender said IL&FS Transportation had availed credit from it during 2016 under multiple banking arrangements in which Karnataka Bank was one of the members.
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ANI - Karnataka Bank reports fraud of Rs 34 crore against IL&FS Transportation, , Karnataka Bank, fraud in its credit facilities, IL&FS Transportation Networks, outstanding balance, non-performing asset, reserve bank of india
Private sector lender Karnataka Bank on Friday said it has reported to the RBI a fraud of about Rs 34.16 crore in credit facilities extended to IL&FS Transportation Networks, which is a dud account now.
Read more about Karnataka Bank reports Rs 34.16-crore fraud to Reserve Bank of India on Business Standard. Private sector lender Karnataka Bank on Friday said it has reported to the RBI a fraud of about Rs 34.16 crore in credit facilities extended to IL&FS Transportation Networks, which is a dud account now."The bank has reported to RBI (Reserve Bank of