“We are watching the development; there is no systemic issue,” Mr. Malhotra was quoted as saying to reporters at a press briefing after the customary post-budget address by Finance Minister Nirmala Sitharaman to the Central Board of Directors of the RBI.
IDFC First Bank on Sunday disclosed a Rs 590-crore fraud committed by certain employees and others at a particular branch in Chandigarh involving Haryana State Government accounts.
IDFC First Bank Ltd has appointed KPMG to initiate an independent forensic audit on the issue.
Meanwhile, AU Small Finance Bank Ltd said there is no indication of any financial impact or any fraudulent activity.
