The Allahabad Bank on Saturday became the second Indian state-owned bank to report a major alleged fraud by bankrupt steelmaker Bhushan Power & Steel Ltd this month, adding to concerns about a banking industry burdened with bad debts.

Allahabad Bank reports $259 million alleged fraud by Bhushan Power & Steel

Residential premises and offices of Rotomac Directors have also been sealed by the CBI in New Delhi

PNB scam: Investigations at Mumbai branch continue, ED probes former Allahabad Bank director

Allahabad Bank has an exposure of around Rs 2,000 crore by way of Letter of Undertakings issued by Punjab National Bank to Nirav Modi

Allahabad Bank discloses Rs 2,000 crore exposure in PNB fraud

The central bank has so far ordered corrective action for about 10 lenders, mostly due to their high bad loan ratios.

RBI puts Allahabad Bank under prompt corrective action

IT stocks were among the top gainers with Infosys rising as much as 2.4 per cent after a group of institutional investors asked the company to bring former CEO Nandan Nilekani back on to its board to settle the feud with the founders

Infosys shares up after Nandan Nilekani's comeback rumours

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Allahabad Bank reports $259 million alleged fraud by Bhushan Power & Steel

PNB scam: Investigations at Mumbai branch continue, ED probes former Allahabad Bank director

Allahabad Bank discloses Rs 2,000 crore exposure in PNB fraud

RBI puts Allahabad Bank under prompt corrective action

Infosys shares up after Nandan Nilekani's comeback rumours