 "Punjab & Sind bank")
Punjab & Sind Bank (PSB) said on Wednesday it has reported a Rs 238 crore ($34.58 million) fraud to the country's central bank, relating to allegations of diversion of funds by the indebted Bhushan Power & Steel Ltd.
Earlier this month, Punjab National Bank (PNB) said it had reported a borrowing fraud of Rs 3805 crore in Bhushan Power's account to the Reserve Bank of India (RBI).
Both these banks are among a host of financial creditors who have claimed a collective Rs 47,303 crore from Bhushan Power, which the RBI referred to a bankruptcy court in 2017.
It has
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