Punjab & Sind Bank flags Rs 238.3 cr fraud by Bhushan Power & Steel
In a regulatory filing on Wednesday, Punjab and Sind Bank said it has been defrauded of Rs 238.30 crore by the Bhushan Power and Steel company (BPSL).
Punjab & Sind Bank has entered into a co-lending agreements with IIFL Home Finance Limited and Capri Global Capital Limited to offer financing solutions to MSMEs and Home loan borrowers in line with RBI guidelines.
With these tie-ups, the Bank aims to offer credit to Retail and MSME segment borrowers at an affordable rate.
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Punjab & Sind Bank has already entered into Co-lending arrangement with Indiabulls Housing Finance Ltd, Indiabulls Commercial Credit Ltd and UGRO Capital Limited.
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It was informed that the Bank is actively looking for tie-up opportunities with multiple NBFCs/HFCs/MFIs and Fin-techs for financing the Retail, Agriculture & MSME segment borrowers to enhance last mile connect.
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