Allahabad Bank reports ₹688.3 cr fraud by SEL Manufacturing

State-run Allahabad Bank on Wednesday said it has reported a fraud of nearly ₹688.3 crore by textile firm SEL Manufacturing (SELM) to the RBI. It added the fraud by SELM, a non-performing asset account, is being heard by the National Company Law Tribunal. Earlier, Allahabad Bank had reported a fraud of ₹1,775 crore by bankrupt steelmaker Bhushan Power and Steel.