RBI levies penalty of Rs. 45 million on IndusInd Bank

A monetary penalty of Rs.45 million on IndusInd Bank has been levied for non-compliance with certain directions issued by Reserve Bank of India (RBI).

The monetary penalty was levied by RBI with reference to findings of annual statutory inspection of Bank's pertaining to the position as on March 31, 2019 (FY 2019) conducted in July - September 2019 and the Risk Assessment Report (RAR) pertaining thereto.

There is no other monetary impact on the current financial statements / performance of the Bank.

The Bank has reiterated its stated policy to be a fully compliant Bank. The bank also said that wherever required, corrected processes have already been put in place.

Shares of INDUSIND BANK LTD. was last trading in BSE at Rs.608.05 as compared to the previous close of Rs. 598.2. The total number of shares traded during the day was 538223 in over 11552 trades.

The stock hit an intraday high of Rs. 613.6 and intraday low of 601.2. The net turnover during the day was Rs. 327232179.

Source : Equity Bulls

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