Intelligence Alert

New India Cooperative Bank fraud case reported in Mumbai

Risk level: Low Country: India

As per reports, the New India Cooperative Bank fraud case has been reported in Mumbai for alleged loan irregularities and providing kickbacks to senior bank officials.

Police infoemd that the Percept Group, a prominent entertainment, media and communications conglomerate, had taken a INR 77-crore loan from New India Cooperative Bank, of which INR 18.56 crore was waived by senior bank officials also named in the FIR.

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