CBI books Hyderabad-based Coastal Projects in over Rs 4,736 crore bank fraud
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This story is from January 9, 2021
CBI books Hyderabad-based Coastal Projects in over Rs 4,736 crore bank fraud
PTI / Jan 9, 2021, 17:41 IST
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NEW DELHI: The CBI has booked Hyderabad-based Coastal Projects Ltd and its directors in connection with over Rs 4,736 crore bank fraud in a consortium of banks led by the State Bank of India, officials said on Saturday.
The complaint from the SBI, now a part of the FIR, has alleged that the accused construction company, during the five year period between 2013 and 2018, falsified account books and financial statements to show unrealisable bank guarantee amounts as realisable investments, Central Bureau of Investigation (CBI) spokesperson R C Joshi said.
Tech jobs soar as overall US job market dips
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Angus Loten
, The Wall Street Journal
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High demand for skilled information-technology workers ramped up further in December, even as companies across the economy shed jobs.
US employers added an estimated 391,000 IT jobs last month, following both gains and losses in the sector in recent months, IT trade group CompTIA Inc. reported Friday.
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The unemployment rate for technology jobs held roughly steady at 3% the same level as a year ago compared with a 6.7% overall unemployment rate.
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While the common borrowers are struggling with repaying equated monthly instalments (EMIs) of their loans and also face harassment for missing a single EMI, big and wilful defaulters seem to not only go scot-free but also live life king-size without any worry or fear of any action due to the the banks, especially the public sector banks (PSBs), turning a blind eye on these lapses. In a reply to an application filed under the Right to Information (RTI) Act, the Reserve Bank of India (RBI) says there are 1913 wilful defaulters, who together owed Rs1.46 lakh crore to banks as on June 2020.