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Last Updated : May 29, 2020 09:27 AM IST | Source: Moneycontrol.com

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.

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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.

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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.

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.
First Published on May 29, 2020 09:27 am
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