RBL Bank shares rise as investors digest RBI action
RBL Bank Share Price NSE: RBL Bank shares will remain in focus on D-Street today after the Reserve Bank of India (RBI) imposed a penalty of Rs 2.27 crore for non-compliance with norms related to recovery agents on Monday.
)
09:41 AM IST
RBL Bank Share Price NSE: RBL Bank shares traded in green on Dalal Street, trading in modest volumes, digesting the Reserve Bank of India (RBI) action. The counter opened at Rs 137.5. At 9:37 AM the RBL Bank stock gained by 0.60 or 0.44 per cent to Rs 137.7 apiece on NSE.
RBI imposed a penalty of Rs 2.27 crore for non-compliance with norms related to recovery agents on Monday.
RBI in a statement said that the penalty has been imposed for non-compliance with certain provisions of the directions issued by it on 'Internal Ombudsman Scheme, 2018', 'Fair Practices Code for Lenders', 'Credit Card Operations of Banks', 'Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks' and 'Recovery Agents engaged by Banks'.
However, RBI added that the penalty is based on the deficiencies in regulatory compliance observed relating to the period fiscal 2018-19 to 2021-22 and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
RBL Bank Share Price History
YTD, the stock has corrected 24 per cent. At current market levels, RBL Bank has a market cap of 8.25 thousand crore.
Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
(With PTI Inputs)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
)
8th CPC Revised Pension Estimates: What can be revised pension for Level 2, 4, 6, 8 and 10 employees at 2.08 and 2.57 fitment factors in 8th Pay Commission?
)
7 Stocks to Buy for Long Term: Brokerages bullish on Delhivery, Gabriel India, JK Cement & more; note down targets
)
Senior Citizen Highest FD Rates: Compare interest rate of banks like SBI, PNB, HDFC Bank and maturity on Rs 11,50,000 investment in 1-5 year FDs
)
Top 5 Large and Mid Cap SIP Mutual Funds in 10 Years: Rs 12,500 monthly investment in No. 1 fund has jumped to Rs 48,51,472
)
Power of Rs 1,50,000 PPF Investment: How many years will it take to generate over Rs 18 lakh/year tax-free income from Public Provident Fund?
)
8th Pay Commission Pay Projections for Indian Army: What can be revised salary for Subedar Major, Captain and others at 2.08-2.57 fitment factors
09:41 AM IST