The PMC Bank used more than 21,000 fictitious accounts to hide loans it made, according to a police complaint lodged by officials, in the latest banking fraud case to spook the country’s depositors and investors. The complaint accuses the bank’s management of concealing non-performing assets and disbursing loans leading to a loss of at least Rs 4,355 crore.

from Times of India https://timesofindia.indiatimes.com/business/india-business/pmc-bank-created-over-21000-fake-accounts-to-hide-loans-report/articleshow/71404430.cms