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4 held by ED for duping Pune s Shivaji Bhosle Co-operative Bank for over Rs71 crore

 1 The Enforcement Directorate (ED) has arrested four persons on charges of defrauding Pune s Shivaji Bhosle Co-operative Bank Ltd to the tune of Rs 71.78 crore deposited by small investors. The fraud was noticed by the Reserve Bank of India (RBI) in 2019.   Anil Shivajirao Bhosale, Suryaji Pandurang Jadhav, Tanaji Dattu Padwal, and Shailesh Bhosale were arrested on March 6 after taking custody of the said accused persons from Yervada Jail.   The arrest was done by the ED s Mumbai Zonal Office-II. Anil Bhosale and his associates were earlier arrested by the Crime Branch, Pune, and were placed in judicial custody at the Yerwada Central Jail.

Minister warns officials of Kangra Cent Co-op Bank

In a review meeting of the Himachal Pradesh cooperative department held recently, the state cooperative minister Suresh Bhardwaj said strict action would be taken against the officers who disbursed loan against the norms. He asked officials to give a complete report before 31 March. Bhardwaj said action would also be taken against the officers involved in increasing the Non-Performing Asset (NPA) of Kangra Central Cooperative Bank. It is reported that the Kangra Central Cooperative Bank’s present NPA reached up to 22 percent. Kangra Bank has the highest NPA among the cooperative banks in the state. Officials said during the tenure of the former Congress government many irregularities were committed in giving loans. The loans worth crores of rupees are now difficult to recover.

Sensex tumbles over 550 pts; Asian shares mixed

Read more about Sensex tumbles over 550 pts; Asian shares mixed on Business Standard. The benchmark indices further extended losses and hit fresh intraday low in mid-morning trade. The Nifty was trading below the 14,850 mark. Rising treasury yields and the possibility of another lockdown in Maharashtra weighed on the investors

Nifty ends below 14,700; metal stocks outperform

Read more about Nifty ends below 14,700; metal stocks outperform on Business Standard. Domestic shares plunged on Monday with the Nifty falling below the 14,700 mark. Rising COVID-19 cases and negative global cues triggering spoiled sentiment. The selling was broad based, however, metal shares bucked trend on firm copper prices.

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