Made 100% provision for old Pisciculture loans: IDBI

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New Delhi, March 29 (IANS) State-run lender IDBI Bank on Thursday said that it has made 100 per cent provision for old Pisciculture loans given during 2009-13.

“The bank would like to reiterate that all the Pisciculture loans identified as fraudulent have been fully provided for and there will be no further impact on the profitability or balance sheet of the bank,” the lender said in a statement.

The statement comes after some reports surfaced on the Rs 772 crore Pisciculture loan fraud.

“The bank would like to reiterate that the Pisciculture loans fraud is not a new case. It was detected and disclosed in 2013. It was reported to and duly filed with Reserve Bank of India through fraud monitoring report in 2013,” the statement said.

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In addition, the bank said that it “continues to pursue all legal actions to recover dues from the borrowers and has taken action against the erring officers”.

–IANS

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