Mumbai, April 22 -- In a clarification shared today, the bank said, "the Bank has not engaged EY for a forensic audit as reported. As a part of the process of finalization of accounts, the Bank's Internal Audit Department (IAD) is conducting a review of the Bank's MFI business to examine certain concerns which have been brought to the Bank's attention."

The lender emphasized that EY has been brought in solely to assist the Internal Audit Department in reviewing "certain records of the Bank" and added that "the review by the bank is ongoing."

The clarification comes in response to media reports that triggered a sharp 4.88% fall in the bank's share price, dragging it down to Rs 787.65 today.

Reports surfaced earlier today suggesting that...