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Satyam Fraud

Satyam Fraud
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The Reserve Bank of India has collected data on bank exposure in scam-tainted IT firm Satyam Computer and an investigation in the matter is on, a top RBI official said. “We have collected data on direct and indirect exposure of banks to Satyam.

The investigation in the matter is on,” RBI Deputy Governor Shyamala Gopinath told reporters here on the sidelines a conference organised by the Indira Gandhi Institute of Development Research on Money and Finance.The Reserve Bank of India (RBI) had asked banks to furnish information to the central bank on their fund and non-fund based exposures to Satyam and associate companies. A communique to this effect had been sent to banks recently, Gopinath said.

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