Today, the market cap of IndusInd Bank has fallen sharply at 4.20 (0.67%). The share price is currently 621.05 INR
IndusInd Bank has suffered losses for the last two consecutive sessions and its shares have been witnessing a strong bounce in intraday trade on BSE since October 1.
Recently, on October 16, the Reserve Bank of India (RBI) announced that a fine of Rs 4.50 crore is being levied on IndusInd Bank for non-compliance with RBI’s prudential norms on income recognition, exposure norms, asset classification and provisioning pertaining to advances and among others.
RBI found cases of non-compliance with the standard operating procedure or the standard direction during a statutory inspection of IndusInd Bank for the year ended March 31, 2019. A show-cause notice was also issued to Induslnd Bank.