Karnataka Bank has reported a fraud to RBI amounting to Rs.13.26 crore in the fund based working capital facility that was extended to SRS Finance Ltd., on account of diversion of funds. The said working capital facility was extended by the Bank under Multiple Banking arrangement and necessary accounting treatment has already been given as per the extant RBI Guidelines.
Shares of KARNATAKA BANK LTD. was last trading in BSE at Rs.128.1 as compared to the previous close of Rs. 131.3. The total number of shares traded during the day was 241365 in over 791 trades.
The stock hit an intraday high of Rs. 132 and intraday low of 128. The net turnover during the day was Rs. 31418198.