Spandana Sphoorty Cyber Fraud: ₹7.80 Cr Siphoned in Major NBFC Breach
Microfinance lender Spandana Sphoorty disclosed a ₹7.80 crore cyber fraud where unauthorized transfers hit 82 bank accounts. We analyze the November 1 breach, recovery efforts, potential Q3 provisioning impacts, and CERT-In's NBFC warning.
