Wed, Apr 25, 2018
Financial institutions, including foreign banks, are set to take a hit of Rs 10,800 crore from country’s erstwhile largest basmati rice exporter Rei Agro, which has gone down due to alleged frauds committed by promoters. As per creditors’ claim list finalised on Monday, Indian banks alone have run up dues of Rs 8,536.87 crore, which are much higher than previous estimates of Rs 5,300 crore.
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Mon, Aug 15, 2016
Reserve Bank of India (RBI) has questioned the decision of a 21-bank consortium led by UCO Bank to extend a staggering Rs 5,262-crore loan to Kolkata-based rice trading firm REI Agro which was found to be involved in fraudulent activities.
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