RBI imposes Monetary Penalty of Rs. 1 crore on Karur Vysya Bank Ltd

The Reserve Bank of India (RBI) imposed a monetary penalty of Rs. 1 Cr (Rupees One crore) on Karur Vysya Bank Ltd for non-compliance with certain provisions of directions issued by RBI on 'Lending to Non-Banking Financial Companies (NBFCs)', and 'Bank Finance to Non-Banking Financial Companies (NBFCs)'. The penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47 A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.

Shares of KARUR VYSYA BANK LTD. was last trading in BSE at Rs.51.75 as compared to the previous close of Rs. 51.75. The total number of shares traded during the day was 148140 in over 1406 trades.

The stock hit an intraday high of Rs. 52.45 and intraday low of 51.2. The net turnover during the day was Rs. 7641889.

Source : Equity Bulls

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