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The Reserve Bank of India (RBI) has fined HDFC and Punjab & Sindh Bank, the largest private sector bank for violating regulatory rules.
HDFC Bank imposed a fine of Rs 75 lakh for not following KYC rules, while Punjab & Sindh Bank Large Exposure and Financial Inclusion Guideline reported was fined Rs 68 lakh for lapses in reporting.
In addition, the Central Bank has also imposed a fine of Rs 10 lakh on the KLM Exivas Finvest for violation of the rules related to the declaration of dividend.
HDFC Bank’s share climbed 27% in a year
Today i.e. on Thursday (March 27), HDFC Bank shares are trading up 1% above 1% at 1825. The bank shares have climbed 7.38% in a month, 4.20% in 6 months and 27% in a year. Its market cap is 13.97 lakh crore rupees.
Punjab & Sindh Bank’s share dropped 20% in 6 months
There is a slight decline in the shares of Punjab and Sindh Bank today, it is trading at 44. In the last one month, the bank has climbed 5.80% while the last 6 months and 20.45% and 21% has fallen in a year. The market cap of PSB is 30 thousand crores.
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HDFC Bank’s profit up 2.2% in October-December quarter: ₹ 16,736 crore was profit, shares climbed 1.79% to Rs 1,671
HDFC, the country’s largest private bank, increased by 2.2% to ₹ 16,736 crore in the October-December quarter on a standalone net profit i.e. pure-muna. It was ₹ 16,372.5 crore in the same quarter of last year.
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