BANK SCAM: FIR FILED AGAINST OFFICIALS, OVER RS.4000 CRORES LOSS!

Mumbai police lodged FIR against the former bank management and promoters of HDIL in the Punjab and Maharashtra Cooperative Bank, reports TOI. A special team will conduct investigation.

Following a complaint by RBI-appointed admin, the police lodged an FIR in the case of forgery, cheating, criminal conspiracy. The bank's losses are calculated as Rs.4355.46 crore since 2008.

Despite non-payment, the officials failed to inform RBI and also maintained fake records of the companies to hide from regulatory supervision.

The bank has 137 branches and over Rs.11,000 crore deposits. It has been put under restriction.