Indusind Bank says whistleblower claims baseless; gave 84,000 loans sans client consent in May
The Hindu
Lending without the consent was reported by the field staff in two days, and the glitch was also rectified expeditiously, Indusind Bank said in a clarification
Terming whistleblower allegations on loan evergreening as “grossly inaccurate and baseless”, Indusind Bank on November 6 admitted to have disbursed 84,000 loans without customer consent in May owing to a “technical glitch”.
Lending without the consent was reported by the field staff in two days, and the glitch was also rectified expeditiously, the private sector lender said in a clarification.
On Friday, there was a media report about anonymous whistleblowers writing to the bank management and the RBI about BFIL, the microlending-focused subsidiary of the bank, allegedly resorting to evergreening of loans, wherein existing borrowers unable to pay dues were given new loans to present the books as clean.
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