RBI imposes penalty of Rs. 2 crore on Bank of Baroda

Reserve bank of India (RBI) in exercise of powers conferred under Section 47A (1) (c) read with Section 46 (4) (i) and 51(1) of the Banking Regulation Act, 1949, has imposed a penalty aggregating to Rs. 2.00 crore (Rupees two crore only) on Bank of Baroda for non-compliance with the directions issued by the RBI with respect to advances sanctioned to M/s Infrastructure Leasing and Financial Services Ltd, and its Group Companies.

Shares of BANK OF BARODA was last trading in BSE at Rs.86.1 as compared to the previous close of Rs. 85.5. The total number of shares traded during the day was 1803598 in over 5135 trades.

The stock hit an intraday high of Rs. 86.45 and intraday low of 84.6. The net turnover during the day was Rs. 154627773.

Source : Equity Bulls

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