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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.
Here’s a look at the NCGTC, which will look into the claims the lender made, and the CGFMU scheme
India's Bandhan Bank said on Tuesday that the National Credit Guarantee Trustee Company has decided to undertake an audit of loan claims filed by the lender under a guarantee scheme....
Bandhan Bank has clarified that the National Credit Guarantee Trustee Company is conducting an audit of its loan claims under a guarantee scheme. The bank clarified that the regulator has not initiated an audit of the bank, but only the CGFMU claim pertaining to the portfolio. The bank applied for a second tranche of around Rs 1,290 crore after receiving the first tranche of recovery from the Credit Guarantee Fund of Micro Units (CGFMU).
Mumbai, Jan 9 (IANS( Bandhan Bank said on Tuesday that the National Credit Guarantee Trustee Company (NCGTC) has decided to carry out an audit of loan claims filed by the bank under a guarantee scheme.However, the bank clarified that the ...