Allegations by union are baseless & stupid: Dhanlaxmi Bank

The stock of Dhanlaxmi Bank tanked almost 21% after the All India Bank Officers' Confederation (AIBOC) came out and raised a whole lot of questions about the business operations.

Bipin Kabra, chief financial officer, Dhanlaxmi Bank joins CNBC-TV18 to clear the air. Below is the edited transcript of the interview. Also watch the accompanying video. Q: If you can just give us your reaction to all these allegations that that have been thrown up by AIBOC?
A: Basically, these are all baseless allegations and there is no merit in whatever they have spoken. If you look at each allegation individually, the factual numbers are all very different.
Just to give you an example, they spoke about having a dependency on certificate of deposit of Rs 2500 crore. I don