AU Small Finance Bank has initiated a review of its operations after being delisted from the Haryana governments panel over alleged irregularities. The bank maintains that no financial loss or fraud has been detected and has temporarily relieved certain employees of duty while an internal probe is conducted.
IDFC FIRST Bank will get Rs 35 crore from its employee dishonesty insurance. This follows a Rs 590 crore fraud at its Chandigarh branch. The bank's management confirmed this to investors. The fraud impacted the bank's stock, causing a significant drop. The bank has suspended officials and launched a forensic probe.
Sebi chief Tuhin Kanta Pandey said the regulator plans a comprehensive overhaul of PMS rules to improve suitability, governance, and conduct, while also examining industry representations on the RBIs new capital-market funding framework. He added that Sebi is also working on oversight for to-be-listed stocks.
