Saturday , September 18 2021

Indian Bank slips on reporting three NPA accounts worth over Rs 35 crore as fraud to RBI

Indian Bank is currently trading at Rs. 138.55, down by 1.35 points or 0.96% from its previous closing of Rs. 139.90 on the BSE.

The scrip opened at Rs. 139.50 and has touched a high and low of Rs. 141.65 and Rs. 137.50 respectively. So far 77636 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 156.90 on 18-Feb-2021 and a 52 week low of Rs. 41.70 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 143.00 and Rs. 136.15 respectively. The current market cap of the company is Rs. 15692.55 crore.

The promoters holding in the company stood at 88.06%, while Institutions and Non-Institutions held 5.28% and 6.66% respectively.

Indian Bank has reported three accounts as fraud to the Reserve Bank of India (RBI) with total outstanding of over Rs 35 crore. Three non-performing accounts (NPAs) are S Kumars Nationwide, Priya and Yuvaraj Power Projects.

This have been declared as fraud and reported to the RBI as per regulatory requirement. All of the three accounts have caused fund diversion to the tune of Rs 35.29 crore.

Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.

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