RBL Bank Clarifies $18.6 Million Allegedly Diverted to China: No Material Impact Expected

RBL Bank Ltd. has issued a clarification regarding a media report alleging that 137 crore INR (approximately $18.6 million) were diverted to China through mule accounts at its Kisan Nagar branch in Telangana. The bank confirmed its awareness of the FIRs registered at PS Karimnagar-III Town and stated that the matter is sub judice and currently under investigation. Two employees of the branch have been taken into custody and granted bail. The bank reiterated its adherence to SEBI regulations and KYC compliance, and does not anticipate any material impact on its operations or financial position. The bank maintains a zero-tolerance approach towards misconduct and is committed to governance, regulatory compliance, and customer protection.