RBI imposes monetary penalty of Rs. 30 lakh on Karur Vysya Bank

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs. 30 Lakh (Rupees Thirty Lakh only) on the Bank for noncompliance with certain provisions of directions issued by RBI on 'Reserve Bank of India (Frauds - Classification and reporting by commercial banks and select Fls) directions 2016'. The penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47 A(1)(cl read with Section 46(4)lil of the Banking Regulation Act, 1949.

Shares of Karur Vysya Bank Limited was last trading in BSE at Rs. 97.65 as compared to the previous close of Rs. 97.50. The total number of shares traded during the day was 112802 in over 1489 trades.

The stock hit an intraday high of Rs. 98.25 and intraday low of 96.55. The net turnover during the day was Rs. 11003506.00.

Source : Equity Bulls

Keywords

KarurVysyaBank INE036D01028 KVB MonetaryPenalty RBI