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CBI registers 3 fresh FIRs in Rs 743 cr NPA in IDBI bank

CBI registers 3 fresh FIRs in Rs 743 cr NPA in IDBI bank
New Delhi: The CBI has registered three fresh cases to look into Rs 743 crore of fishy loans issued by an IDBI bank branch in West Godavari district for pisciculture and Kisan credit cards which have became non performing assets, the officials said on Thursday. The agency has named three accused persons --B K Sahoo, retired DGM of the bank R Damodaran and the then DGM Battu Rama Rao --who are common in all the three FIRs.
There are a total of 41 others accused in these three separate FIRs, they said. The agency has said the cases pertain to the loans of Rs 394 crore, Rs 160 crore and Rs 189 crore--issued between 2009 and 2012 from IDBI's Palangi branch in West Godavari district on the pretext of availing kisan credit cards and pisciculture -- fish farming -- loans. It is alleged that the loans were issued without proper loan documents, without conducting pre sanction and post sanction inspections and without ascertaining the end use of the loan.
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