Home Business All You Need To Know About Rs 34,000-Crore DHFL Scam

All You Need To Know About Rs 34,000-Crore DHFL Scam

5

Indian banking system, which is struggling with issue of mounting bad loans, has been hit by another banking fraud case. This time the Central Bureau of Investigation (CBI) has booked promoters of non-banking finance company – Dewan Housing Finance Limited (DHFL) of defrauding a consortium of 17 banks worth Rs 34,000 crore. DHFL banking fraud is being termed as the country’s biggest scam in banking industry after ABG Shipyard’s fraud case of Rs 20,000 crore which was reported earlier this year. 

A total of 17 banks have been defrauded of over Rs 34,000 crore by home loan provider DHFL. 

The CBI on Wednesday booked former promoters of DHFL, Kapil Wadhawan and Dheeraj Wadhawan, among 13 others in connection with the case. 

The case has been registered on a complaint from the Union Bank of India (UBI). According to the UBI complaint, since 2010, the DHFL has extended credit facilities of over Rs 42,000 crore by the consortium…

Click here for full article…www.outlookindia.com