An Indian bank employee counts old 500 and 1000 rupee notes in Guwahati, the capital city of the north-eastern state of Assam. (AFP / Biju BORO)
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India's federal police agency said Thursday it was investigating an alleged 6 billion rupee ($90 million) loan fraud at IDBI Bank, and former senior bank officials were among those being investigated.Police officials said as many as 15 senior IDBI officials, including former chairman and managing director M S Raghavan, former deputy managing director M O Rego, and former chief executive officer Kishor Kharat, were under investigation, as well as the companies that took the loans and nearly two dozen other individuals.It did not provide any details of loans to the other company or name the bank officials being questioned.The CBI also says IDBI gave the unnamed Finnish company a loan equivalent to 52 million euros ($63 million) in 2010 .
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