Watch Our Live Call Update: Union Bank at 14 year low as lender faces Rs300cr fraud- 23 Mar 2018

Friday 23 March 2018

Union Bank at 14 year low as lender faces Rs300cr fraud- 23 Mar 2018

Shares of Union Bank of India slumped 9% today to hit their lowest level in 14 years after the CBI filed a case against a private company and its promoter for allegedly cheating the bank of Rs314cr. The company, whose account became non-performing asset on Jun 30, 2012, owes Rs1,394cr to a consortium of eight banks led by Union Bank of India.Media reports said the company is Hyderabad-based Totem Infrastructure.

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