Kotak Mahindra Bank on Friday clarified the Rs 160 crore FD (fixed deposit) fraud case involving Panchkula Municipal Corporation in an exchange filing. The bank has said that this matter has not had any major impact on its financial condition. This clarification from the bank has come after news of fraud surfaced in media reports. In the information given to the exchange, the bank said that it is investigating the matter on the instructions of Municipal Corporation Panchkula. The bank also said that it is fully cooperating with the municipal corporation, government agencies and law enforcement agencies.
Kotak Mahindra Bank gives big update in case of FD fraud of Rs 160 crore – Market
