CURRENT AFFAIRS

2022

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

CBI has registered the biggest ever bank fraud case by which company?

A	Mercator Limited
B	ABG Shipyard
C	Berger Paints
D	Shalimar Works

Explanation:

Detailed explanation-1: -ABG Shipyard is the flagship entity of ABG Group. It has cheated a consortium of 28 banks and financial institutions of Rs. 22,842 crore. This is the biggest bank fraud case ever registered by the CBI.

Detailed explanation-2: -The Punjab National Bank scam was touted as India’s biggest at Rs 11,400 crore and the main accused were jeweller Nirav Modi, Mehul Choksi, Nishant Modi, Ami Modi and others, including some PNB staff.

Detailed explanation-3: -As per details, the ABG Shipyard created a web of transactions to cheat a consortium of 28 banks to the tune of ₹22,842 crore in between 2012 and 2017, in a case which has come to light a few months back. The banks include State Bank of India (SBI), IDBI and ICICI.

Detailed explanation-4: -ABG Shipyard Limited’s founder-chairman Rishi Agarwal was arrested by the CBI on Wednesday in the Rs 22,842-crore bank fraud case.

There is 1 question to complete.