RBL Bank share price slips after RBI imposes Rs 2-crore penalty

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RBL Bank share price slipped more than a percent in the early trade on September 28, a day after the Reserve Bank of India imposed a penalty of Rs 2 crore on the private lender.

The fine was imposed for flouting norms on the opening of saving accounts and the composition of the board.

The bank has always endeavoured to maintain the highest standards of compliance and culture within the organisation, and shall continue to do so, RBL Bank said in a release.

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At 0916 hours, RBL Bank was quoting at Rs 189.25, down Rs 1.05, or 0.55 percent on the BSE.

The share touched a 52-week high of Rs 274 on January 8, 2021 and a 52-week low of Rs 155.65 on August 24, 2021.