RBI imposes penalty of Rs. 2 crore on RBL Bank Ltd

Reserve Bank of India ('RBI') has imposed, by an order dated September 27, 2021 (as received by the Bank on September 27, 2021), a monetary penalty of Rs. 2.00 crore (Rupees two crore only) on RBL Bank Limited ("the Bank"). As per the said order, the penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949 ('Act'), for contravention of section 28 (h) of the Reserve Bank of India (Interest Rate on Deposits) Directions, 2016; and for the non-compliance with the provisions of section 10 A (2) (b) of the Act including penalty imposed for the period during which the subject contravention or default continued.

The Bank has always endeavored to maintain the highest standards of Compliance and Culture within the organization, and shall continue to do so.

Shares of RBL Bank Limited was last trading in BSE at Rs. 190.3 as compared to the previous close of Rs. 185.8. The total number of shares traded during the day was 1130197 in over 9567 trades.

The stock hit an intraday high of Rs. 190.95 and intraday low of 184.05. The net turnover during the day was Rs. 213970301.

Source : Equity Bulls

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