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Karur Vysya Bank informs about RBI imposes monetary policies on bank

08 Jul 2021 Evaluate

Karur Vysya Bank has informed that the Reserve Bank of India (RBI) imposed a monetary penalty of Rs 1 Cr on the Bank for non-compliance with certain provisions of directions issued by RBI on 'Lending to Non-Banking Financial Companies (NBFCs)’, and ‘Bank Finance to Non-Banking Financial Companies (NBFCs)'. The penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47 A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.

The above information is a part of company’s filings submitted to BSE.

Peers
Company Name CMP
HDFC Bank 705.00
ICICI Bank 1333.00
Axis Bank 1223.95
Kotak Mahindra Bank 416.30
Indusind Bank 882.30
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