TIL Desk/Business/New Delhi/ Shares of Indusind Bank on Monday tumbled over 12 per cent after the lender said it disbursed 84,000 loans without customer consent in May owing to a “technical glitch”.
The stock tanked 12.33 per cent to Rs 1,042.10 on the BSE. At the NSE, it tumbled 12.40 per cent to Rs 1,041.60.
Terming whistleblower allegations on loan evergreening as “grossly inaccurate and baseless”, Indusind Bank on Saturday 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.
