CBI raids 50 places across India over bank loan fraud

In a major crackdown against bank loan defaulters, the Central Bureau of Investigation (CBI) on Tuesday searched more than 50 locations in 12 states and Union Territories, officials said.

A CBI official said several teams carried out the raids in 18 cities including the residence and business premises of companies, promoters, directors and bank officials.

The searches started on Tuesday morning.IANS