Never in 75 years have such bank frauds happened with people's money, alleges Rahul Gandhi

Taking a jibe at the Centre over the recent alleged bank fraud incidents that came to the fore, Congress leader Rahul Gandhi on Sunday said that such "frauds" have never taken place with people's money in the history of Independent India.

Notably, the Central Bureau of Investigation (CBI) registered an FIR against ABG Shipyard and its directors for allegedly duping 28 banks of Rs 22,842 crore.

"Till now Rs 5,35,000 crore bank frauds have taken place during Modi era - never in 75 years such fraud has happened with the money of the people of India. These days of loot and deceit are good days only for Modi friends," Gandhi tweeted in Hindi.

On alleged fraud of Rs 22,842 crores by ABG Shipyard, SBI issued a statement that read, "Financed under consortium arrangement over 2 dozen lenders led by ICICI Bank. Due to poor performance, the account became NPA in Nov 2013. Several efforts were made to revive company operations but couldn't succeed."

( With inputs from ANI )

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