CAG disclosed, fake profits of government banks - AskBihar24X7 - Bihar & Jharkhand News

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Friday, July 28, 2017

CAG disclosed, fake profits of government banks

The Controller and Auditor General (CAG) has pulled out the government and public sector banks on the issue of handling and recapitalization of non-performing assets (NPAs). CAG said that there has been a lot of disturbances in the matter of giving capital to the banks. At the same time, there is a huge gap between book value and market value of PSU banks. These reports have been reported in the report placed by the government auditor in Parliament. According to media reports, the CAG in its report alleged that profits of 12 government banks were increased and increased. At the same time, the banks did not have the correct provisioning compared to NPAs. The rules were ignored for raising the capital. CAG said that the capital of Corporation Bank and State Bank of India (SBI) were given more than capital.

                                       

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