The Bank has reinforced the control process so as to prevent such occurrences in future.
Indusind Bank Ltd has informed BSE that on the basis of media reports relating to certain irregularities in advance remittance for import / export transactions in the banking system, the Reserve Bank of India conducted a scrutiny under Section 35(1A) of the Banking Regulation Act 1949. A Show Cause Notice was issued, to which the Bank gave a detailed response. After considering the written and oral submissions of the Bank, the RBI has imposed a penalty of Rs.20 million on the Bank, citing grounds of non-adherence to KYC/AML Guidelines.
The Bank has reinforced the control process so as to prevent such occurrences in future.
The scrip opened at Rs. 1178.05 and has touched a high and low of Rs. 1191.15 and Rs. 1173 respectively. So far 222056(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 70209.81 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1182 on 27-Jul-2016 and a 52 week low of Rs. 799 on 11-Feb-2016. Last one week high and low of the scrip stood at Rs. 1182 and Rs. 1105.15 respectively.
The promoters holding in the company stood at 14.88 % while Institutions and Non-Institutions held 55.3 % and 18.97 % respectively.
The stock is currently trading above its 50 DMA.
The Bank has reinforced the control process so as to prevent such occurrences in future.
The scrip opened at Rs. 1178.05 and has touched a high and low of Rs. 1191.15 and Rs. 1173 respectively. So far 222056(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 70209.81 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1182 on 27-Jul-2016 and a 52 week low of Rs. 799 on 11-Feb-2016. Last one week high and low of the scrip stood at Rs. 1182 and Rs. 1105.15 respectively.
The promoters holding in the company stood at 14.88 % while Institutions and Non-Institutions held 55.3 % and 18.97 % respectively.
The stock is currently trading above its 50 DMA.
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