RBI watching development around IDFC First Bank fraud, no systemic issue: Guv Malhotra

The RBI is watching the development around the ₹590 crore fraud at IDFC First Bank and there is no systemic issue, Governor Sanjay Malhotra said on Monday. IDFC First Bank had on Sunday disclosed a ₹590-crore fraud committed by certain employees and others at a particular branch in Chandigarh in a specific set of Haryana State government accounts. "We are watching the development, there is no systemic issue," Malhotra told reporters at a press briefing after the customary post budget address by Finance Mini ...