Kotak Mahindra Bank responds over alleged fraud: Initiated ‘detailed reconciliation’ of FDs to Panchkula Municipal Corp

Kotak Mahindra Bank today said it has initiated a detailed reconciliation of fixed deposits and linked bank accounts maintained by the Municipal Corporation of Panchkula, following instructions from the civic body.In a statement, the spokesperson said that the Bank has examined records to confirm that all processes and documentation related to the Panchkula Municipality's account are in order and were handle as per norms.What has Kotak Mahindra Bank stated?“Following instructions from the Municipal Corporat ...