Canara Bank falls as Reserve Bank of India imposes monetary penalty on Bank
Canara Bank is currently trading at Rs. 96.00, down by 0.75 points or 0.78% from its previous closing of Rs. 96.75 on the BSE.
The scrip opened at Rs. 95.90 and has touched a high and low of Rs. 97.20 and Rs. 95.30 respectively. So far 643656 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 129.35 on 04-Jun-2024 and a 52 week low of Rs. 87.75 on 13-Jan-2025.
Last one week high and low of the scrip stood at Rs. 102.00 and Rs. 95.30 respectively. The current market cap of the company is Rs. 87168.96 crore.
The promoters holding in the company stood at 62.93%, while Institutions and Non-Institutions held 22.83% and 14.23% respectively.
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1,63,60,000 on Canara Bank for non-compliance with certain directions issued by RBI on ‘Priority Sector Lending - Targets and Classification’, ‘Interest Rate on Deposits’ and ‘Financial Inclusion - Access to Banking Services - Basic Savings Bank Deposit Account (BSBDA)’.
This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.
Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country.
