New Delhi, Oct 30 (PTI) Indian Bank on Saturday said it has reported over Rs 266 crore worth of fraud to the Reserve Bank, relating to three NPA accounts.

These non-performing accounts have been declared as fraud and reported to RBI as per regulatory requirement, the public sector lender said in a regulatory filing.

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It has declared M P Border Checkpost Development Co Ltd as fraud with an outstanding of Rs 166.89 crore; Pune Sholapur Road Development (Rs 72.76 crore) and SONAC (Rs 27.08 crore).

The frauds have been categorised as diversion of funds in all the three cases.

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Indian Bank said it has held provisions worth Rs 12.58 crore against SONAC. While in the case of other two accounts, the provisions held are equivalent to the entire exposure respectively.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)