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₹160 cr loan to Reliance Home Finance, Reliance Commercial declared fraud by bank

Karnataka Bank has declared accounts of Reliance Home Finance and Reliance Commercial Finance a fraud with loan outstandings of over ₹160 crore. The bank reported to RBI regarding frauds in the credit facilities extended to the two listed companies. An outstanding loan of ₹21.94-crore to Reliance Home Finance and a ₹138.41-crore loan to Reliance Commercial Finance was declared as fraud.

tap for more at The Financial Express / 3 years ago
'Both the accounts were classified as NPA'
The private bank told RBI in a regulatory filing
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