Rs.26,000 Crores at Stake in Major Banks in India- Allegations of Fraud and Cheating against few businessmen

It is alleged that few businessmen have fraudulently availed loans with the connivance of the Bank Authorities and the enforcement agencies are investigating a major bank scam worth about Rs.11,500 Crores by one business men, in another scam, a business man siphoned off over Rs.6,000 Crore and in yet another major scam, another business man has been declared absconding by Indian Courts, who has taken a loan of about Rs.9,000 Crores from few Banks, thus bringing the lost amount to Rs.26,000 Crores.

Few private banks have stated that it need not disclose such discrepancy or the amount involved in fraudulent transactions.