Union Bank Slumps On Report Of Loan Fraud

Union Bank Slumps On Report Of Loan Fraud

Shares of the Mumbai-based government-owned bank fell as much as 8.76 percent, the most in over a month, to Rs 86.40.

A bank fraud came to light with the CBI filing a case against Hyderabad-based Totem Infrastructure Ltd for allegedly defrauding a consortium of eight banks led by Union Bank of India (UBI) to the tune of Rs 1,394 crore, news agency IANS reported.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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