J&K Bank trades in red as RBI imposes of Rs 1 crore penalty
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Jammu & Kashmir Bank is currently trading at Rs. 38.90, down by 0.25 points or 0.64% from its previous closing of Rs. 39.15 on the BSE.
The scrip opened at Rs. 40.10 and has touched a high and low of Rs. 40.10 and Rs. 38.60 respectively. So far 312000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 44.35 on 22-Jun-2021 and a 52 week low of Rs. 14.10 on 30-Oct-2020.
Last one week high and low of the scrip stood at Rs. 41.60 and Rs. 38.60 respectively. The current market cap of the company is Rs. 2789.59 crore.
The promoters holding in the company stood at 68.18%, while Institutions and Non-Institutions held 3.78% and 28.04% respectively.
The Reserve Bank of India (RBI) in exercise of powers conferred under Section 47 A (1) (c) read with Section 46 (4) (i) of the Banking Regulation Act, 1949 has imposed a penalty of Rs 1 crore on Jammu & Kashmir Bank (J&K Bank), on account of contravention of directions contained in circulars on Lending to Non-Banking Financial Companies (NBFCs) and Bank Finance to Non-Banking Financial Companies (NBFCs).
Jammu & Kashmir Bank is engaged in the banking business. The company offers a range of products and services, such as loans, insurance, tax products/planning, savings and deposits, cards, mutual funds and non-resident banking.
