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Karnataka Bank share price declines nearly 3% as RBI imposes penalty

As bank had already made full provision, there is no other financial impact other than the penalty amount.

May 29, 2020 / 09:27 AM IST
 
 
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Karnataka Bank share price fell nearly 3 percent after Reserve Bank of India (RBI) imposed penalty on the bank.

Reserve Bank of India has imposed a monetary penalty of Rs 1.20 crore on the bank.

The penalty imposed for divergence in respect of NPAs and non-adherence to IRAC norms with reference to financial position as on March 31, 2017 and March 31, 2018.

As bank had already made full provision, there is no other financial impact other than the penalty amount.

At 09:21 hrs Karnataka Bank was quoting at Rs 35.35, down Rs 0.85, or 2.35 percent on the BSE.

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The share touched its 52-week high Rs 108.82 and 52-week low Rs 34.35 on 27 May, 2019 and 27 May, 2020, respectively.

Currently, it is trading 67.52 percent below its 52-week high and 2.91 percent above its 52-week low.
Moneycontrol News
first published: May 29, 2020 09:27 am

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