Last month, police alleged that Punjab and Maharashtra Co-operative Bank (PMC) had used more than 21,000 fictitious accounts to hide loans it made to a single real estate firm.
Current Affairs:India’s government police said on Tuesday that they had enlisted 42 new instances of bank extortion adding up to about Rs 72 billion ($1.02 billion) in the wake of leading quests in 187 places the nation over.
The essentially credit extortion cases were identified at 15 banks, including the nation’s biggest state-run loan specialist – State Bank of India, as indicated by an announcement by the Central Bureau of Investigation.
State Bank of India was not promptly accessible for input outside business hours.
The police said of the 42 cases, four included an extortion measure of more than Rs 10 billion each.
Various extortion cases have become known at both state-run and private banks in India in the course of recent years, where the financial business has just been thinking about almost $150 billion in terrible advances.
A month ago, police affirmed that Punjab and Maharashtra Co-usable Bank (PMC) had utilized in excess of 21,000 invented records to conceal credits it made to a solitary land firm.
A year ago, India’s second-greatest state-controlled loan specialist, Punjab National Bank was hit by a $2 billion misrepresentation after two gems gatherings utilized phony bank assurances to bring billions of dollars up in outside credit.
The supposed misrepresentation cases enlisted by CBI on Tuesday generally included organizations getting cash utilizing adulterated records and manufactured archives and afterward redirecting assets and defaulting on the reimbursements.
“During look, implicating records have been recouped up until now,” CBI said in an announcement.
Aditi Mehta 