The SFIO officials have since held discussions with bank executives and are expected to formally request details. | Photo credit: ANUSHREE FADNAVIS
The Bank noted in a regulatory filing that the RBI Master Directions on Fraud Risk Management in Commercial Banks (including Regional Rural Banks) and All India Financial Institutions dated July 15, 2024 prescribe that any fraud reported to the RBI involving an amount of ₹1 crore and above shall also be reported to the SFIO in the same format as submitted to the RBI.
Accordingly, on June 2, 2025, matters relating to the accounting of internal derivative transactions, certain unsubstantiated balances in the Bank’s ‘other assets’ and ‘other liabilities’ accounts and interest income from microfinance were reported to the SFIO, the private sector bank said.
“In view of the above, SFIO held a telephonic conversation with officials of the Bank yesterday (December 17) and today (December 18) and informed that they will send written communication requesting certain details from the Bank, which is currently awaited,” the Bank said.
Published on December 19, 2025
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