New Delhi, March 25 -- Kotak Mahindra Bank today said it has initiated a detailed reconciliation of fixed deposits and linked bank accounts maintained by the Municipal Corporation of Panchkula, following instructions from the civic body.

In a statement, the spokesperson said that the Bank has examined records to confirm that all processes and documentation related to the Panchkula Municipality's account are in order and were handle as per norms.

"Following instructions from the Municipal Corporation of Panchkula, Kotak Mahindra Bank initiated a detailed reconciliation of fixed deposits and linked bank accounts maintained by the Municipal Corporation," the spokesperson told Mint.

They added that as part of this exercise, the Kotak Mahin...