Indian banks to suffer a further loss of Rs 36,000 crore if DHFL is declared fraudulent
Indian banks are facing another major risk as Dewan Housing Finance Corporation(DHFL) is on the verge of write-off. If the DHFL account is declared a fraudulent account, the banks may suffer a loss of a whopping Rs. 36,000 crore. Only about Rs 5,500 crore of provisions would be required if the KPMG report absolves Dewan of irregular lending. The company’s shares are down more than 90% so far this year.