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ED to act against bank officials involved in giving huge loans to big business houses : India, News

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Picture for representationPicture for representation. Photo: Reuters

Highlights

  • ED to act against bank officials giving huge loans to big business houses.

  • ED move after Mallya’s bank loan fraud case.

  • ED waiting for final list from CBI on suspected officers.

In a major crackdown against corrupt officers, Enforcement Directorate is going to act against senior bank officials who are involved in giving huge bank loans to big business houses and non-performing assets.

This plan came into action after Vijay Mallya’s Rs 6000 crore bank loan fraud case.

As per the reports, SBI has declaimed Rs 1 lakh crore as NPA recently and cumulative figure for consortium of major banks is very high.

As per the sources, these NPA’s are result of senior bank officials’ conspiracy with big loan defaulters. Many of these officers have retired after making money in tendering loans to defaulters. Sources confirm that CBI and other agencies have done forensic examination of documents deposited by loan defaulters and it is suspected that this cannot be possible without involvement of top brass in lending banks.

ED is waiting for final list from CBI on suspected officers and the department will then initiate action if found guilty.

This plan came into action after Vijay Mallya’s Rs 6000 crore bank loan fraud case.

Source

http://indiatoday.intoday.in/story/enforcement-directorate-bank-officials-loans/1/811362.html