Interim report from forensic auditors raises NDB fraud to Rs. 13.58 b

Saturday, 27 June 2026 01:04 - - {{hitsCtrl.values.hits}}

National Development Bank PLC (NDB) yesterday said that the preliminary forensic review conducted by Deloitte Touche Tohmatsu India LLP has identified suspicious transactions amounting to Rs. 13.58 billion. Earlier disclosures by the bank had estimated the fraud at Rs. 13.2 billion.

The bank said it had received an interim report from Deloitte on the forensic review and that the observations contained in the interim report are preliminary and indicative, adding that the report remains confidential under the terms of the engagement.

However, based on the examination completed thus far, Deloitte has identified the value of the suspicious transactions at Rs. 13,579,664,684. The bank said it will make further disclosures as appropriate.