Bank of Rajasthan has slumped in early trades on news of audit of the bank's books and accounts.
The stock touched a high of Rs 64.25 upon opening. But it slipped 12% from its previous close to touch a low of Rs 58.60 soon. It is now down 6% at Rs 62.75. Over 683,000 shares have been traded on the BSE as against a two-week average trade of 404,000 shares.
Previously, too, the bank had faced trouble with RBI. The central bank has already appointed a new chief executive and two RBI officers on the bank’s board after many instances of corporate governance violations came into light. It also has appointed two nominee directors. In February 2010 RBI has imposed a Rs 25 lakh fine on the Jaipur-based private sector lender for violating regulations on five counts.
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