Shares of the Mumbai-based IDBI Bank recovered\u00a0partly in the mid-morning trades on Wednesday\u00a0after tumbling 3.5% on Rs 772 crore fraud in the PSU Bank involving the\u00a0illegal issuance of loans from five branches in Andhra Pradesh and Telangana.\u00a0IDBI Bank has been defrauded of Rs 772 crore by alleged industrialists who stood as common guarantor for these loans. The stock of IDBI Bank tanked as much as 3.48% to a day's bottom of Rs 73.6 on NSE on Wednesday. Shares of IDBI Bank were the worst losers among the benchmark Nifty PSU Bank index on Wednesday after opening 1.7% down at Rs 74.95 on NSE. A heavy trading volume was witnessed in the shares of IDBI Bank, as at 1:47 pm, more than 3.5 crore shares exchanged hands on both NSE and BSE with about 2.88 on NSE alone. Here are the details about Rs 772 crore fraud at IDBI Bank During the period\u00a0from FY09 to FY13, IDBI Bank\u00a0authorised\u00a0Pisciculture (fish farming) loans from five branches based in Andhra Pradesh, namely,\u00a0Basheerbagh in Hyderabad, Guntur, Rajahmundry, Bhimavaram and Palangi. Later, it was found that some of these loans with a principal outstanding of Rs 772 crore were illicitly\u00a0obtained by some industrialists who\u00a0stood as the common guarantors for these loans. These were earlier referred to as aggregators by submitting fake lease documents of non-existent fish ponds. IDBI Bank had sanctioned Pisciculture loans during the period from FY2009 to FY2013 at a few branches of erstwhile state of Andhra Pradesh. Subsequently, these cases were parked in five branches, viz. Basheerbagh in Hyderabad, Guntur, Rajahmundry, Bhimavaram and Palangi. It was later discovered that some of these loans (52 aggregators with Principal outstanding of Rs.772 cr) were fraudulently obtained by some industrialists who stood as common guarantor for these loans and were referred to as Aggregators, by submitting fake lease documents of non-existent fish ponds. "Further, the empanelled valuers also inflated the value of the collateral securities. While recovery was achieved in certain accounts, most of the accounts turned NPA from FY14 onwards. It was also observed while conducting Staff Accountability exercise, that there were major lapses while processing and disbursing the loans, mainly in respect of Shri Battu Rama Rao, GM and Shri R Damodaran, Ex CGM,\u00a0IDBI Bank said in an exchange filing. IDBI Bank had filed\u00a0five separate complaints with the Central Bureau of Investigation for further investigation in respect of the cases dealt in the five branches. According to the IDBI filing, the national investigative agency Central Bureau of Investigation had the cases for two out of the five complaints filed with CBI\u00a0respect of the branches at Basheerbagh and Guntur. As of now, CBI is yet to register the cases filed in respect of the remaining three branches at Rajahmundry, Bhimavaram and Palangi. The Bank has already provided for these loans to the extent of 100% and hence, there is no further impact of these accounts on the profitability\/balance sheet of the Bank. Bank continues to pursue all legal actions to recover the dues from these borrowers, IDBI Bank\u00a0added. IDBI Bank is the fourth public sector bank which has been gripped by the banking scams after India's biggest bank fraud unravelled at nation's second-largest PSU bank Punjab National Bank amounting Rs 11,400 crore which later got escalated to Rs 13,600 crore. Amid the PNB fraud, the diamantaire Nirav Modi and his uncle Mehul Choksi were the prime accused in obtaining buyer's credit from a number of domestic\u00a0banks outside India on the basis of fraud LoU\u00a0issued by Punjab National Bank. Meanwhile, Hyderabad-based Andhra Bank, India's largest bank by assets State Bank of India and Union Bank of India have been trembled by illicit\u00a0cases. Andhra Bank's Rs 5,000 crore alleged fraud appeared\u00a0in connection to\u00a0a Gujarat-based pharma firm Sterling Biotech Pvt Ltd; State Bank of India's Rs 824 crore scam\u00a0was linked to Chennai-based jeweller Kanishk Gold and Union Bank of India was defrauded by\u00a0south based infra firm Totem Infrastructure Ltd for Rs 1,394 crore.