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Axis, HDFC and ICICI Bank shares log losses after RBI fine

Last Updated: Tuesday, June 11, 2013 - 21:43

Mumbai: Shares of Axis Bank, HDFC Bank and ICICI Bank Tuesday fell after the RBI imposed fines totalling Rs 10.5 crore on these three private lenders for violating Know Your Customer and anti-money laundering norms.

ICICI Bank shares tanked 3.75 percent to close the day at Rs 1,076.40, while HDFC Bank was down 1.73 percent to Rs 665.55 on the BSE.

Shares of Axis Bank fell by 2.65 percent to Rs 1,320.40.

RBI had yesterday said it was conducting inquiries against 36 other banks following an expose made by an online portal.

A penalty of Rs 5 crore has been imposed on Axis Bank, Rs 4.5 crore on HDFC Bank and Rs 1 crore on ICICI Bank after inquiring into charges levelled by online portal, Cobrapost.

The penalty follows scrutiny carried out by RBI of books of accounts, internal control, compliance systems and processes of these three banks at their corporate offices and some branches during March/April 2013.

Meanwhile, the BSE benchmark Sensex ended the day at 19,143, down 298.07 points.


First Published: Tuesday, June 11, 2013 - 21:43
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