No Systemic Risk from IDFC Bank Fraud in Chandigarh: RBI Gov

The Governor of RBI – Shri Sanjay Malhotra, said that there is no Systemic Risk from Rs.590 crore fraud in Chandigarh branch of IDFC First Bank.

He said: As a policy, we do not comment on any individual bank or regulated entity. We are closely watching the developments.

What you think of his statement – do let us know in the comment section below.

In another update, the Government of Haryana has ordered all government departments to deal exclusively with public sector banks only. Click here to read this news in detail.

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