India's top investigating agency CBI (Central Bureau of Investigation) filed charges against executives at many financial services firms, including LIC ( Life Insurance Corporation of India ) and PNB ( Punjab National Bank) in a bribes for loans case.
CBI filed charges of accepting bribes against then secretary of PSU insurer LIC, then Chief Executive of LIC Housing Finance, a former general manager of Bank of India and a former deputy general manager of PNB. All those charged were arrested last year (2010) and were later granted bail.
CBI had said, "The executives at some firms had received bribes from Money Matters Financial Services, a firm cited as the mediator on the deals resulting in heavy loans to the booming infrastructure sector builders of dams, power plants, property developers"
CBI filed charges of accepting bribes against then secretary of PSU insurer LIC, then Chief Executive of LIC Housing Finance, a former general manager of Bank of India and a former deputy general manager of PNB. All those charged were arrested last year (2010) and were later granted bail.
CBI had said, "The executives at some firms had received bribes from Money Matters Financial Services, a firm cited as the mediator on the deals resulting in heavy loans to the booming infrastructure sector builders of dams, power plants, property developers"
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