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BOI reports ₹226.84 cr loan fraud by Gupta Power Infrastructure

BOI reports ₹226.84 cr loan fraud by Gupta Power Infrastructure


State-owned Bank of India (BOI) on Friday reported a fraud of ₹226.84 crore by Odisha-based Gupta Power Infrastructure Ltd to the Reserve Bank.

The bank has informed that Non Performing Asset (NPA) of Gupta Power Infrastructure Ltd has been declared as fraud, BoI said in a regulatory filing.

Against the outstanding amount of ₹226.84 crore, the bank has made provisions of ₹212.62 crore in case of Gupta Power Infrastructure Ltd, it said.

For the third quarter ended December 2024, BoI posted a 35 per cent jump in net profit to ₹2,517 crore against ₹1,870 crore in the year-ago period.

The lenders’ total income increased to ₹19,957 crore during the third quarter of the ongoing fiscal against ₹16,411 crore a year ago.

The interest income of the bank rose to ₹18,210 crore against ₹15,218 crore in the third quarter of the preceding year.

Its net interest income (NII) increased to ₹6,070 crore against ₹5,463 crore for Q3 FY24.

Published – February 22, 2025 12:13 am IST



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