India, March 25 -- Kotak Mahindra Bank has come into the spotlight after the issue of the Rs 160 crore fixed deposits of the Panchkula Municipal Corporation came to light. The issue has raised questions of diversion of funds and the role of the bank. The bank has come out with a clarification on the issue, stating that the bank is cooperating with the authorities and has begun the reconciliation of accounts, even as it has stated that the procedures were followed in the correct manner.

With a market cap of Rs 3.7 lakh crore, the shares of Kotak Mahindra Bank Ltd are trading at Rs 372 and are trading at a PE of 19.7 compared to their industry's PE of 14.

Alleged Panchkula FD fraud comes to light There have been certain allegations relat...