India probes huge bank fraud


India’s Central Bureau of Investigation says it is probing what it believes could be the country’s biggest-ever lending fraud with 17 banks allegedly cheated out of 346.15 billion rupees. – EPA pic, June 23, 2022.

INDIAN investigators today said they are probing what they believe could be the country’s biggest-ever lending fraud with 17 banks allegedly cheated out of around US$4.4 billion (RM19.4 billion).

The Central Bureau of Investigation (CBI) said it carried out raids at 12 locations in Mumbai yesterday and recovered “incriminating documents”.


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