"We were not the leader of the consortium. The leader bank had already filed a case with CBI in May 2015. "The accounts of the subject borrower have turned NPA on September 3, 2016. "A compliant in the matter has also been lodged with CBI (Economic Offences Wing), Ranchi, which has been registered on February 27, 2018. By virtue of the accounts being classified as fraud, total exposure in these accounts shall be provides as per extant RBI guidelines," it said further.With the spate of fraud cases hitting the banking sector, the finance ministry yesterday had asked all state-owned banks to scrutinise NPA accounts above Rs 50 crore for possible fraud and accordingly report the matter to CBI.

Source: Economic Times February 28, 2018 17:28 UTC