Union Bank Of India Shares Crash To 11-Year Low On CBI Complaint

Union Bank of India (UBI) shares fell to a more-than 11-year low on Friday after federal police registered a case against a private company for allegedly cheating eight lenders, including Union Bank, out of Rs 1,394 crore ($214 million). The Central Bureau of Investigation (CBI) registered the case against Hyderabad-based Totem Infrastructure and directors after a complaint from Union Bank, which the CBI said had been cheated out of ...