New Delhi, Feb 21 (PTI) State-owned Allahabad Bank today said it has an exposure of Rs 516.79 crore to crisis-hit Rotomac group and the lender has made required provisioning for the same as per RBI norms. Responding to a clarification sought by exchanges on news article “Rotomac owner flee
New Delhi, Feb 21 (PTI) State-owned Allahabad Bank today said it has an exposure of Rs 516.79 crore to crisis-hit Rotomac group and the lender has made required provisioning for the same as per RBI norms.
Responding to a clarification sought by exchanges on news article “Rotomac owner flees India after taking Rs 800 crore loans, the Allahabad Bank said the group is “having an exposure from our bank since 2006”.
There is an outstanding of Rs 43.09 cror…
Read the full article at: https://www.indiatoday.in/pti-feed/story/allahabad-bank-has-rs-517cr-exposure-to-rotomac-1174952-2018-02-21