Indian police list new 42 bank frauds cases

India's federal police said on Tuesday that they had enrolled 42 new instances of bank misrepresentation adding up to around 72 billion rupees ($1.02 billion) in the wake of directing hunts in 187 places the nation over.

The primarily loan fraud cases were recognized at 15 banks, including the nation's biggest state-run loan specialist - State Bank of India (SBI.NS), as indicated by an announcement by the Central Bureau of Investigation.

State Bank of India was not quickly accessible for input outside business hours.

The police said of the 42 cases, four included a misrepresentation measure of in excess of 10 billion rupees each.

Various fraud cases have become known at both state-run and private banks in India in the course of recent years, where the financial business has just been thinking about almost $150 billion in awful advances

A month ago, police affirmed that Punjab and Maharashtra Co-operative Bank (PMC) had utilized in excess of 21,000 invented accounts here to conceal advances it made to a solitary land firm.

A year ago, India's second-greatest state-controlled loan specialist, Punjab National Bank was hit by a $2 billihere after two adornments gatherings utilized phony bank certifications to bring billions of dollars up in remote credit.

The supposed misrepresentation cases enrolled by CBI on Tuesday for the most part included organizations acquiring cash utilizing adulterated records and fashioned reports and afterward redirecting assets and defaulting on the reimbursements.

"During look, implicating reports have been recouped up until now," CBI said in an announcement.