March 27, 2018 / 1:46 PM / 4 months ago

BRIEF-India's IDBI Bank Says CBI Registered 2 Complaints w.r.t Branches At Basheerbagh, Guntur

March 27 (Reuters) - Idbi Bank Ltd:

* CLARIFIES ON NEWS ITEM THAT SAID CBI BOOKS EX-GM OF CO FOR FRAUD

* CBI RECENTLY REGISTERED 2 OF 5 COMPLAINTS FILED BY CO W.R.T BRANCHES AT BASHEERBAGH AND GUNTUR

* HAS ALREADY PROVDED FOR THESE LOANS TO 100 PERCENT EXTENT; NO FURTHER IMPACT OF THESE ACCOUNTS IS THERE ON BANK’S PROFITABILITY

* CBI YET TO REGISTER CASES FILED BY CO W.R.T BRANCHES AT RAJAHMUNDRY, BHIVMAVARAM, PALANGI

* MAJOR LAPSES WHILE PROCESSING, DISBURSING LOANS WERE FOUND W.R.T BATTU RAMA RAO, GM , R. DAMODARAN, EX CGM

* ACCORDINGLY, RAMA RAO HAS BEEN DISMISSED FROM SERVICE WHILE DAMODARAN HAD ALREADY RETIRED Source text: bit.ly/2Gu63dz Further company coverage:

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