Mumbai, May 27 -- As per media reports, the bank allegedly failed to disclose that an the Audit Committee of the Board (ACB), under the chairmanship of M D Ranganath, had on March 12 ordered a formal "Internal Vigilance Investigation" into payments totalling Rs 45 crore made to the Maharashtra State Road Development Corporation (MSRDC), a state government agency, during FY2024 and FY2025.

According to a news report, the bank had offered an interest rate of 6.01% to MSRDC at a time when its prevailing rate stood at 3.5%, resulting in a differential of 2.51%.

Media report further stated that the Rs 45 crore in payments, which were meant for MSRDC as "differential interest" i.e., paid over and above the specified deposit rate, were directl...