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Sambandh Finserve fraud explained: How Odisha-based NBFC defaulted to its lenders

Updated : October 16, 2020 06:53 PM IST

Yet another financial fraud came to light when a small microfinance lender based in Odisha by the name of Sambandh Finserve recently defaulted on its repayment obligations.

The senior management of the NBFC-MFI now alleges that the managing director and chief executive officer of the firm, Deepak Kindo is behind the fraud, which involved several bogus loan entries and cash pilferage from its books.

In this explainer, CNBC-TV18's Ritu Singh tells us what went wrong with Sambandh Finserve.
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