Home Business Allahabad Bank reports $259 million alleged fraud by Bhushan Power & Steel

Allahabad Bank reports $259 million alleged fraud by Bhushan Power & Steel

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The Allahabad Bank on Saturday became the second Indian state-owned bank to report a major alleged fraud by bankrupt steelmaker Bhushan Power & Steel Ltd this month, adding to concerns about a banking industry burdened with bad debts.

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