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IDBI Bank drops as RBI imposes penalty

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lost 1.94% to Rs 70.70 at 11:52 IST on after the Reserve of imposed a monetary penalty of Rs 3 crore on the for non-compliance.

The bank made the announcement after market hours yesterday, 11 April 2018.

Meanwhile, the Sensex was up 74.56 points or 0.22% at 34,015

On the BSE, 20.14 lakh shares were traded on the counter so far as against average daily volumes of 61.20 lakh shares in the past two weeks. The stock had hit a high of Rs 71.10 and a low of Rs 69.80 so far during the day. The stock had hit a 52-week high of Rs 89.80 on 5 March 2018 and a 52-week low of Rs 50.25 on 14 August 2017.

The has equity capital of Rs 3083.86 crore. Face value per share is Rs 10.

said that the Reserve Bank of (RBI) has vide letter dated 10 April 2018 imposed a monetary penalty of Rs 3 crore on the bank, for non-compliance with the directions issued by it on Income Recognition and Asset Classification (IRAC) norms. The penalty will not have any material impact on the bank, said.

IDBI Bank reported net loss of Rs 1524.31 crore in Q3 December 2017, lower than net loss of Rs 2254.96 crore in Q3 December 2016. Total income declined 6.45% to Rs 6645.81 crore in Q3 December 2017 over Q3 December 2016.

The Government of held 77.79% stake in IDBI Bank (as on 31 December 2017).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 12 2018. 12:04 IST