In recent times, several cases of bank loan frauds have flooded the headlines. In nearly every major scams, it can be noted that the accused have always evaded justice – making the system or law that holds such rule breakers accountable – appear weak. Continue Reading
The action, however, is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers, the RBI said. Continue Reading
State-owned lender, UCO Bank has declared Yashovardhan Birla as a wilful defaulter for non-payment of Rs 67.55 crore given to Birla Surya Ltd. The loan was given by UCO Bank as part of a consortium including State Bank of India, Punjab National Bank and United Bank of India. Continue Reading