The Pune cops busted another financial fraud in the Bank of Maharashtra and arrested its CEO Ravindra Marathe, bank’s Executive Director and other officials for sanctioning a loan of Rs 3,000 crore to real estate firm DS Kulkarni. Cases under various sections were registered for criminal conspiracy, cheating and diverting the money and all the accused were sent to custody till June 27. The common people are losing faith in the banking system with the series of frauds. There are allegations the Centre and RBI are not taking enough measures to prevent frauds in banks.
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