RBL Bank has written off Rs. 300 Cr loan within 7 months of being sanctioned. RBL Bank down by 8%

As per reports, RBL bank has written off a loan of Rs. 300 Crore within 7 months from the sanction of the loan. This seems to be a major reason for the sudden intervention of RBI. 

RBI has appointed its person on the board of the lender as an additional director. The stock tumbled by 20% after that action. 

Today, the stock is trading low by around 8%. The stock is also under the F&O ban for today. 

    2 thoughts on “RBL Bank has written off Rs. 300 Cr loan within 7 months of being sanctioned. RBL Bank down by 8%”

    1. Dr T V Gopalakrishnan

      This seems to be a planned loot and needs to be thoroughly investigated. The borrower details and his connections with the bank are not found reported so far. This can be a connected lending violating all rules in force and at this rate the tax payers money and depositors money only go into the drain without any benefit to to the economy. Time to put a stop to such easy loots.

    2. Andhra Bank has given crores of rupees as loan and bank guarantee to paramount airways at the behest of chidambaram and written off the same within a month .RBI has audited and did not do anything,y5

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