Indian market slips on Tuesday, FinMin asks public sector banks to check bad loans exceeding Rs 50 crore for possible fraud
Mumbai, Feb 27 (IBNS): Indian benchmark indices slipped lower on Tuesday, with BSE Sensex down 99.36 points at 34346.39, and NSE Nifty down 28.30 points at 10554.30.
Top gainers included Idea Cellular, Dr Reddy's Labs, Bharti Artel, NTPC, Reliance and Hero Motocorp while Ambuja Cements, Axis Bank, SBI, ICICI Bank, Sun Pharma, BHEL and Coal India declined.
Meanwhile, according to media reports, the Union Finance Ministry has asked managing directors of public sector banks to examine their non-performing assets or bad loans exceeding rupees fifty crore for possible fraud and refer the same to the Central Bureau of Investigation.
The banks have been given 15 days to take preemptive action and identify and address operational and technological risks, reports said.
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