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Indian Bank declares five NPA accounts worth Rs 148 crore as fraud

02 Feb 2021 Evaluate

Indian Bank has declared five NPA accounts, including Cox & Kings and Era Infra Engineering, having Rs 148.03 crore exposure as fraud. The five accounts are - Cox & Kings Ltd that diverted funds worth Rs 68.46 crore; Era Infra Engineering Rs 19.36 crore; Supreme Tex Mart Rs 16.36 crore; RSAL Steel Rs 27.35 crore and Pune Buildtech Rs 16.50 crore. The bank said it has fully provided for these non-performing assets.

Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.

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938.95 -1.75 (-0.19%)
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