Bank of India reports loan fraud of Rs 226.84 crore by Odisha-based Gupta Power Infrastructure to the RBI; earlier, PNB had declared fraud of Rs 270.57 crore by the same company.
After Punjab National Bank, state-owned Bank of India (BOI) has reported a fraud of Rs 226.84 crore by Odisha-based Gupta Power Infrastructure Ltd to the Reserve Bank of India.
The bank has informed that the non-performing asset (NPA) of Gupta Power Infrastructure has been declared as fraud, BoI said in a regulatory filing.
Against the outstanding amount of Rs 226.84 crore, the bank has made provisions of Rs 212.62 crore in case of Gupta Power Infrastructure, it said.
For the third quarter ended December 2024, BoI posted a 35% rise in net profit to Rs 2,517 crore versus Rs 1,870 crore a year ago.
The lenders' total income rose to Rs 19,957 crore during the third quarter of the fiscal against Rs 16,411 crore a year ago.
The interest income of the bank rose to Rs 18,210 crore against Rs 15,218 crore in the third quarter of the preceding year.
Net interest income (NII) increased to Rs 6,070 crore against Rs 5,463 crore for Q3 FY24.
Earlier, on 18 February Punjab National Bank reported a fraud of Rs 270.57 crore by Gupta Power Infrastructure Ltd to the RBI. The loan was given by the bank’s Station Square branch in Bhubaneswar, the capital city of Odisha.
