Shares Of Public Sector Lender Allahabad Bank Crashed 14.5 Percent Intraday

Shares of public sector lender Allahabad Bank crashed 14.5 percent intraday after company reported a fraud of Rs 1,775 crore by Bhushan Power & Steel.

It was the second lender after Punjab National Bank to report fraud in Bhushan Power.

"It has been observed that the company has misappropriated bank funds, manipulated books of accounts to raise funds from consortium lender banks," Allahabad Bank said.

For more information ✆ +91- 6232578593 or visit www.moneymarketmanthan.com