Punjab and Sind Bank slips as RBI imposes penalty of Rs 25 lakh
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Punjab & Sind Bank is currently trading at Rs. 21.35, down by 0.15 points or 0.70% from its previous closing of Rs. 21.50 on the BSE.
The scrip opened at Rs. 21.90 and has touched a high and low of Rs. 21.90 and Rs. 21.20 respectively. So far 115553 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 23.79 on 19-Feb-2021 and a 52 week low of Rs. 10.42 on 16-Oct-2020.
Last one week high and low of the scrip stood at Rs. 22.65 and Rs. 20.70 respectively. The current market cap of the company is Rs. 8672.71 crore.
The promoters holding in the company stood at 97.07%, while Institutions and Non-Institutions held 1.05% and 1.88% respectively.
Reserve Bank of India (RBI) has imposed a penalty of Rs 25 lakh on Punjab and Sind Bank for non-compliance with certain provisions of directions on 'Cyber Security Framework in Banks'. The penalty is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by them with their customers.
Punjab & Sind Bank’s primary business is taking deposits, and making advances and investments, and is principally divided into retail banking, corporate banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance, distribution of mutual funds and pension and tax collection services.
