Brief: India's Karnataka Bank Reports Fraud Worth 864.7 Mln Rupees To RBI

Gitanjali Gems

29/03/2018 06:59

March 29 (Reuters) - Karnataka Bank Ltd  KBNK.NS :
    * REPORTED FRAUD WORTH 864.7 MILLION RUPEES TO RBI
    * FRAUD RELATED TO FACILITIES EXTENDED TO GITANJALI GEMS ON
ACCOUNT OF NON-REALISATION OF EXPORTS BILLS, DIVERSION OF FUNDS
    * DOES NOT HAVE ANY LOU EXPOSURE TO GITANJALI GEMS

Source text - https://bit.ly/2GTFUCJ
Further company coverage:  KBNK.NS 

 ((Reuters.Briefs@thomsonreuters.com;))