Lakshmi Vilas Bank directors probed for alleged fraud

[Devesh]

Lakshmi Vilas Bank directors probed for alleged fraud

The police have opened a probe into the directors of Lakshmi Vilas Bank after a customer accused them of misappropriating funds, the bank said late on Thursday.

Indian financial services company Religare Finvest (RFL) has accused Lakshmi Vilas of misappropriating Rs 790 crore ($111.4 million) it kept with the bank as a fixed deposit, according to a copy of a complaint filed with the Economic Offences Wing of the New Delhi police that was reviewed by Reuters.

 

[IndianMascot]

It looks like 90% of banks are doing fraud only.

 

[scorpionking76]

RBI needs to tighten the screw and amend the license of these banks including public sectors.

 

[DashMajor]

RBI is too corrupt tat is why not liking Govt. interfere.

 

[Technoglitch]

RBI is too corrupt tat is why not liking Govt. interfere.

It's not but the govt bureaucrats are.

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[IndianMascot]

It's not but the govt bureaucrats are.

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Why can't be RBI corrupt?

 

[Technoglitch]

Why can't be RBI corrupt?

Body is not but may be persons. However I believe that RBI should be an autonomous body.

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[DashMajor]

Individual are enough to make a body corrupt.

 

[Technoglitch]

Same can be said for govt too and so it's nonsense to say govt has to curb the autonomy of RBI

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[IndianMascot]

Now, even this Bank got restriction by RBI.

One by one all Co-operative banks are coming under radar.