
Desh ke andar bhi, Desh ke bahar bhi! Giving away tax-payers money without any collateral and then settling in huge amounts
BoB was at the centre of the NMC Healthcare fiasco in the UAE and mid-east.
It came into the picture after NMC’s joint administrators alleged that the bank facilitated financing arrangements by processing or extending credit based on fictitious invoices and undisclosed borrowings, enabling the company’s management to conceal its true financial position.
The bank has denied everything but agreed to pay ₹5,700 crore for the settlement.
Ghaple mai toh jo paise barbad kiye honge BoB ne, woh alag, Itna bada settlement kiya woh alag, woh bhi cross-borders. Waah!