Shares of Bandhan Bank tumbled 7.21 per cent at ₹200.65 on the BSE on businessline reports that some of its loans had come under forensic audit.
On Sunday, businessline reported that “with doubts of evergreening of loans and fictitious loan accounts looming over certain portfolios covered under credit guarantee schemes, a forensic audit initiated by National Credit Guarantee Trustee Company (NCGTC) is currently ongoing at Bandhan Bank. This covers ₹23,300 crore of loans lent under credit guarantee schemes”
Among other scrutiny processes, documents accessed by businessline, revealed that the auditor is required to “perform data analytics on the portfolio to identify window-dressing or evergreening of loans.”
During the day, the stock hit a low of ₹197.85, which is slightly above its 52-week low of ₹182.20 that it had hit during March 2023. The stock’s 52-week high is ₹272.