Head Lines
    Headlines
  • Where to go in March 2021 long weekends? 8 trips in India to choose from
  • Guelph police warn of online rental scam after man almost loses $750
  • How Sonu Ke Titu Ki Sweety sold us old misogyny in a new bottle. On Monday Masala
  • Redefining heart health with cutting edge technologies
  • Virat Kohli gatecrashes Axar Patel-Hardik Pandya interview to praise India spinner in Gujarati. Watch video
  • Jharkhand cabinet approves ban on hookah bars; no sale of tobacco to those below 21

Private sector lender 

Karnataka Bank

 NSE 0.00 % 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 India) a fraud in the credit facilities extended earlier to IL&FS Transportation Networks Ltd with an outstanding balance of Rs 34.16 crore (defaulted entity)," Karnataka Bank said in a regulatory filing.

Transportation Networks Ltd with an outstanding balance of Rs 34.16 crore (defaulted entity)," Karnataka Bank said in a regulatory filing.

The lender said IL&FS Transportation had availed credit from it during 2016 under multiple banking arrangement in which Karnataka Bank was one of the members. During 2018, the borrowing account was classified as non-performing asset and has been fully provided for, it added. Karnataka Bank stock closed 0.72 per cent down at Rs 69.40 apiece on BSE.

 

 

comments

No Comments Till Now.

Write Your Story