'PMC Bank created 21k fake a/c to hide loans'

The PMC Bank used more than 21,000 fictitious accounts to hide loans it made, according to a police complaint lodged by officials, in the latest banking fraud case to spook the country’s depositors and investors. The complaint accuses the bank’s management of concealing non-performing assets and disbursing loans leading to a loss of at least Rs 4,355 crore.

from Times of India https://ift.tt/2mNtBSI