FM directs banks to look into exposure

Finance minister Pranab Mukherjee on Thursday directed public sector lenders and insurers to look into their exposures to various companies mentioned in the CBI application filed in court in connection with housing finance racket busted on Wednesday.

Finance minister Pranab Mukherjee on Thursday directed public sector lenders and insurers to look into their exposures to various companies mentioned in the CBI application filed in court in connection with housing finance racket busted on Wednesday.

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Mukherjee held a review with the officers of the department of financial services on the situation arising out of the CBI case involving a few banks and LIC Housing Finance Company.

The department of financial services indicated during the review that an initial assessment has indicated that these are isolated instances of alleged illegal gratification.