New Delhi: The Bank of India has transferred Rs 196.20 crore back to the Noida Authority after a police complaint was lodged against the bank for unauthorisedly releasing Rs 3.80 crore against an amount of Rs 200 crore deposited by the Authority as fixed deposit.
The Bank of India branch in Noida, sector 62 had released Rs 3.80 crore to three other parties without the Noida Authority’s consent. Following this, the bank had assured Noida Authority that it will return the entire deposited amount of Rs 200 crore at the earliest.
The remaining amount of Rs 3.80 crore with interest will be returned to Noida Authority by the bank within a week after approval of its board.