India markets closed
  • BSE SENSEX

    49,099.99
    -1,939.32 (-3.80%)
     
  • Nifty 50

    14,529.15
    -568.20 (-3.76%)
     
  • USD/INR

    73.9170
    +1.1760 (+1.62%)
     
  • Dow

    30,932.37
    -469.64 (-1.50%)
     
  • Nasdaq

    13,192.35
    +72.92 (+0.56%)
     
  • BTC-INR

    3,406,187.75
    +2,545.75 (+0.07%)
     
  • CMC Crypto 200

    912.88
    -20.25 (-2.17%)
     
  • Hang Seng

    28,980.21
    -1,093.96 (-3.64%)
     
  • Nikkei

    28,966.01
    -1,202.26 (-3.99%)
     
  • EUR/INR

    89.6708
    +1.0140 (+1.14%)
     
  • GBP/INR

    103.2008
    +1.2652 (+1.24%)
     
  • AED/INR

    20.0800
    +0.3210 (+1.62%)
     
  • INR/JPY

    1.4390
    -0.0183 (-1.26%)
     
  • SGD/INR

    55.5940
    +0.6850 (+1.25%)
     

Karnataka Bank shares slump over 4 pc

·1-min read

New Delhi, Feb 22 (PTI) Shares of Karnataka Bank Ltd on Monday declined over 4 per cent after reporting to the RBI a fraud of about Rs 34.16 crore in credit facilities extended to IL&FS Transportation Networks, which is a dud account now.

On BSE, the shares ended 3.96 per cent lower at Rs 66.65 and had touched an intra-day low of Rs 66.1.

Similarly, on NSE, the scrip decreased 4.53 per cent to Rs 66.35. It was trading at an intra-day low value of Rs 66.35.

'The bank has reported to RBI (Reserve Bank of India) a fraud in the credit facilities extended earlier to IL&FS Transportation Networks Ltd with an outstanding balance of Rs 34.16 crore (defaulted entity),' Karnataka Bank had said in a regulatory filing on Friday.

The lender said IL&FS Transportation had availed credit from it during 2016 under multiple banking arrangement in which Karnataka Bank was one of the members.

During 2018, the borrowing account was classified as non-performing asset and has been fully provided for, it added. PTI SRS RUJ RUJ