SRG Housing Finance's shares fall 20% as NHB flags ₹400-cr fictitious loan

Udaipur-based SRG Housing Finance's shares plunged 20% on Thursday, touching a 52-week-low of ₹190.40. The selloff followed a report that the National Housing Bank (NHB) had raised concerns over suspected fictitious loan accounts worth around ₹300-400 crore at SRG Housing Finance. The company has denied the allegations and said no adverse regulatory finding has been communicated to it.