PNB reports over ₹3800 crore fraud by Bhushan Power & Steel1 min read 06 Jul 2019, 08:20 PM IST
The exposure of ₹3,800 crore includes domestic exposure of ₹3,191 crore, overseas exposure of $49.71 million at the bank's Dubai branch and $38.51 million at its Hong Kong branch
PNB said the company misappropriated bank funds and manipulated books to raise funds from consortium lenders
Mumbai: Punjab National Bank on Saturday said it has detected a fraud of ₹3,805.15 crore by Bhushan Power & Steel Ltd and has reported it to the Reserve Bank of India.
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