City Union Bank tumbles 9% as RBI finds divergence of additional gross NPA

The Reserve Bank of India found divergence of Rs 259 crore in additional gross NPA for the financial year 2021-22.

Shares of City Union Bank tumbled 9 per cent to Rs 172 on the BSE in Wednesday’s intra-day trade on heavy volumes after the private sector lender said that Reserve Bank of India (RBI) found divergence of Rs 259 crore in additional gross NPA for the financial year 2021-22 (FY22).

“The Reserve Bank of India has conducted the on-site Inspection for Supervisory Evaluation (ISE) for the Financial Year 2021-22 from October 7, 2022 to November 18, 2022 and the final meeting concluded on December 19, 2022,” City Union Bank said in an exchange filing on Tuesday after market hours.