The accused has been arrested and a case has been registered at Kaginelli police station under Sections 436, 477, 435 of the Indian Penal Code, said the police.
While technology has revolutionised how loans are disbursed, the principles of judicious borrowing have not.
The Enforcement Directorate has attached properties worth Rs 255 crore in a case connected to fraudulent availing of agricultural loans in the name of poor farmers.
State Bank of India on Wednesday said it has signed an agreement with Japan Bank for International Cooperation (JBIC) for a loan worth USD 1 billion (around Rs 7,403 crore).
Interest rate waivers for bank loans during moratorium will harm the depositors, the All India Bank Depositors' Association (AIBDA) has said adding that interest waiver of any kind will dent the credit culture and also impact the financial health of banks.
Around 50 homebuyers in Greater Noida's Shahberi area have decided to stop paying their monthly installments on bank loans over legality of construction of their flats.
In its FIR filed recently, the CBI has named Jagdish Khattar and his company Carnation Auto India Limited for allegedly causing a loss of Rs 110 crore to Punjab National Bank. Khattar was with Maruti Udyog Limited from 1993 to 2007 when he retired as Managing Director of the company, they said.
She spends about Rs 40,000 a month on the pariah dogs and sold her gold ornaments worth about Rs 2 lakh to bear the cost of taking care of the abandoned canines.
Distressed over mounting debt, a 30-year-old farmer in Uttar Pradesh's Saharanpur has put up posters seeking buyers for one of his kidneys after government banks allegedly turned down his loan requests. The farmer identified as Ram Kumar, a resident of Chattar Sali village has put up posters on the city walls and on several social media platforms.
The Enforcement Directorate said a provisional order was issued under the Prevention of Money Laundering Act (PMLA), for attachment of properties like land, buildings, plant and machinery of the distillery unit of the company located in Simbhaoli, Hapur in Uttar Pradesh. The attached assets worth about Rs 110 crore of Simbhaoli Sugars Limited, one of India's largest sugar mills, in connection with a money laundering probe against the firm related to an alleged bank loan fraud.
"The agency has been able to recover almost the entire amount of loan fraud through these attachments which will now face judicial scrutiny. The role of bank officials in the second case is under probe," a senior official said.
The agency had on December 24 last year informed the court that it wanted to approach Interpol for issuance of Red Corner Notice (RCN) against the SBL's directors
If you are a government employee, you can now get a personal loan easily and swiftly. All you need to do is submit a few important documents along with your employment history. Here's what all you need:
Mumbai: The new priority lending norms issued by the Reserve Bank will ensure a 40 percent increase in credit flow to the under-funded segment of small and marginal farmers at Rs 85,000 crore this fiscal,
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