RBI assures no systemic risk from IDFC First probe
after close1 source ↓written by the desknot a recommendation
- loan irregularities exceeding
- ₹1,000 crore
- in shares
- 20% intraday drop
RBI Governor Sanjay Malhotra stated that the ongoing fraud probe at IDFC First Bank poses no systemic risk to the banking sector. The investigation involves alleged loan irregularities exceeding ₹1,000 crore. Despite a 20% intraday drop in shares, Malhotra emphasized that the situation is being monitored closely, labeling it an isolated incident.
Not investment advice. For informational purposes only.