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In response to reports regarding the NCGTC audit on evergreening of loans, Bandhan Bank clarified that the audit has been initiated by NCGTC, and not by the banking regulator RBI.
Exclusive | Bandhan Bank chief Chandrashekhar Ghosh trashes reports of loan evergreening moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
According to the Kolkata-headquartered bank, it claimed and received an amount of Rs 917 crore from the National Credit Guarantee Trustee Company Ltd (NCGTC) in December 2022, as only 15 per cent of the insured amount can be sought. Subsequently, the bank made a claim of Rs 1,296 crore in the second quarter of the current financial year, which is also lower than the maximum eligible amount of Rs 3,120 crore.
Bandhan Bank managing director Chandra Shekhar Ghosh has denied about any irregularity in those accounts and evergreening of loans. "The audit issue is taking time to resolve because it involves a humungous 51 lakh borrower accounts. Stakeholders should not worry about it," Ghosh told ET in an interview. These loans are backed by two separate government guarantee schemes.