FinMin orders forensic audit of UCO Bank

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, August 27, 2014, 8:48 [IST]

The government has ordered limited forensic audit into some non-performing accounts of Kolkata-based UCO Bank to find out any irregularities in sanction of loans.

"We have ordered a limited forensic audit after complaints were filed with regards to some accounts. Those accounts have turned non-performing," official sources said.

This is the fourth public sector bank where forensic audit is being conducted after alleged cash-for-loan scam came to light with the arrest of Syndicate Bank chairman and managing director SK Jain earlier this month.

Mr Jain was arrested for allegedly receiving a bribe of Rs 50 lakh to enhance credit limits of Bhushan Steel and Prakash Industries.

PTI