Bansals cleared debts: bank

At a time when public sector Canara Bank is under fire for lending to companies owned by railway minister Pawan Kumar Bansal and his family, reports Mahua Venkatesh.

At a time when public sector Canara Bank is under fire for lending to companies owned by railway minister Pawan Kumar Bansal and his family, especially as Sunil Kumar Gupta, one of the directors on the bank’s board is also the chartered accountant of the minister, the lender said that there is no outstanding from these accounts.

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“(There is) no loan outstanding in the bank’s books. All loans (have been) adjusted by them earlier,” RK Dubey, chairman and managing director, Canara Bank said on Friday. However, the RBI could seek a detailed report from Canara Bank to examine if the lender carried out the required checks before sanctioning the R75 crore loan to companies owned by the minister and his kin.