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ROUTINE CHECK: SCB ON RBI SCRUTINY
Orissa POST
|June 19, 2025
After reports surfaced that Standard Chartered Bank (SCB) is facing Reserve Bank of India (RBI) regulatory scrutiny in India over alleged lapses in derivatives sales, the lender Wednesday said the Apex Bank conducts annual inspections of banks, and this is just part of a routine examination.
According to reports, the central bank raised concerns following alleged sales by the lender to small and medium-sized enterprises of target redemption forwards, "a product that can cause significant losses".
The RBI also raised issues regarding the bank's maintenance of reserves and the accounting treatment of forward rate agreement trades in previous fiscals. A Standard Chartered spokesperson told that the Reserve Bank conducts an annual inspection of banks.
“While we don’t want to comment on specifics, observations, if any, are highlighted and addressed as part of the normal process," the spokesperson added.
This story is from the June 19, 2025 edition of Orissa POST.
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