Mumbai: India’s federal police said on Tuesday that they had registered 42 new cases of bank fraud amounting to about 72 billion rupees ($1.02 billion) after conducting searches in 187 places across the country.
The primarily loan fraud cases were detected at 15 banks, including the country’s largest state-run lender - State Bank of India, according to a statement by the Central Bureau of Investigation.
State Bank of India was not immediately available for comment outside business hours.
The police said of the 42 cases, four involved a fraud amount of more than 10 billion rupees each.