 "Canara Bank alleges Rs 5 bn fraud by Kolkata-based R P Infosystems")
Canara Bank, which dropped plans to sale 30 per cent in Canfin Homes, expects to generate about Rs 4.5 billion through offloading stake in Canbank Factors and Computer Company as well as real estate in 2018-19.
The process of finding buyer for stake in Canbank Factors is underway and hope to conclude transaction in the current quarter (Q1Fy19), Rakesh Sharma, managing director and chief executive, Canara Bank told Business Standard. The public sector lender holds 70 per cent stake in factoring company.
According to rating agency CRISIL, the company's factoring turnover was Rs 8.6 billion for the half year ended
