April 4, 2018 / 10:28 AM / 21 days ago

BRIEF-UCO Bank Confirms CBI Probe Into Jayanagar Branch Fraud

April 4 (Reuters) - UCO Bank:

* AT JAYANAGAR BRANCH, IRREGULARITIES IN SANCTIONING, DISBURSEMENT OF HOME LOANS/PROPERTY LOANS DURING 26.08.2013-01.06.2016 WERE OBSERVED

* APPROPRIATE DEPARTMENTAL ACTION HAS BEEN INITITATED AND PUNSHIMENT AWARDED TO ERRING OFFICIALS

* BANK TAKING STEPS TO RECOVER AMOUNTS VIA SARFAESI ACT

* BANK HAD LODGED COMPLAINT WITH CBI MARCH 6, 2017 ABOUT THE FRAUD; BANK HAS REPORTED TO RBI ABOUT FRAUD ON JUNE 30, 2017 Source text - bit.ly/2GxqN50 Further company coverage:

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