Karur Vysya Bank has confirmed that it has no credit exposure to Gitanjali Gems Ltd. Reacting to some reports in the media, the bank has clarified that it has no credit exposure, either funded or non-funded outstanding, in respect of Gitanjali Gems Ltd or any of its group companies.
Similarly, the bank has no credit exposure to any of the group companies of Nirav Modi, the bank said in a statement.