👥 HR & Workplace🇮🇳 India
Bank of Baroda Pays ₹5,700 Crore to Settle NMC Health Fraud Case
mint - companies·Monday, 6 July 2026
Bank of Baroda is paying $600 million (roughly ₹5,700 crore) to settle a case linked to the collapse of NMC Health, a healthcare group. The bank says it admits no liability, but the payout is nearly 28% of its entire FY26 net profit. The settlement has revived allegations by NMC founder B.R. Shetty, who claims senior bank officials colluded with former NMC executives in the fraud.
Why It Matters
Bank of Baroda is a major public sector bank, so a hit of this size affects shareholders, depositors, and anyone tracking India's banking sector health.
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