The Exchange has sought clarification from RBL Bank Limited with respect to recent news item captioned 137 cr diverted to China through mule accounts of RBL Bank in Telangana.. The response from the Company is awaited.
RBLBANK · price
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On the reaction day the stock moved 0.6 pts more than Nifty Smallcap 250 and in line with its Private Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The stock exchange (NSE) has asked RBL Bank to clarify a media report claiming that Rs 137 crore was diverted to China via mule accounts opened at the bank in Telangana. The bank has not yet submitted its response to the exchange. This relates to an alleged fraud or money-laundering case involving the bank's branch or account holders. The bank's clarification will be key to understanding the facts behind the news report.
This is a sensitive matter involving potential fraud at the bank, which could dent investor confidence and put short-term pressure on the stock. Investors should wait for the bank's official response before drawing conclusions, as unverified news can sometimes be misleading.