A veteran banker with two and a half decades of experience in the banking sector, he was earlier heading the microfinance business of RBL Bank

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The Reserve Bank of India (RBI) on Monday (20 March 2023) imposed a monetary penalty of Rs 2.27 crore on RBL Bank for non-compliance with certain provisions.

RBI imposes Rs 2.27 crore monetary penalty on RBL Bank for non-compliance

Report based on complaints against its recovery agents showed that the decision of the bank’s internal ombudsman was not properly communicate in certain cases

RBL Bank fined Rs 2.3 crore for breach of norms on recovery agents

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The RBI noticed “deficiencies in regulatory compliance” after it examined complaints received against the Mumbai-based lender’s recovery agents during the financial years 2018-19 to 2021-22, the central bank said in a statement.

RBI fines RBL Bank for non-compliance with rules on loan recovery agents

Internal Ombudsman Scheme RBI: Other charges levied against lender include non-compliance with RBI norms on credit card operations, code of conduct in outsourcing of financial services, and recovery agents engaged

RBI fines RBL Bank Rs 2.27 cr for failure on internal ombudsman scheme

RBI noticed ‘deficiencies in regulatory compliance’ after it examined complaints received against the Mumbai-based lender’s recovery agents during the financial years 2018-19 to 2021-22

RBI imposes Rs 2.27-cr penalty on RBL Bank for non-compliance with rules on recovery agents

Based on the OI percentage, 59 stocks including Aditya Birla Fashion, Intellect Design Arena, Mphasis, RBL Bank, and Persistent Systems saw a short build-up

Trade setup for today: Top 15 things to know before the opening bell

Based on the OI percentage, 85 stocks including Polycab India, Persistent Systems, RBL Bank, PVR, and Reliance Industries saw a short build-up.

Based on the OI percentage, 94 stocks including GNFC, Crompton Greaves Consumer Electricals, RBL Bank, Tech Mahindra, and Mphasis saw a short build-up.

Hasn't faired well - amongst the low performers

Performance

Can be considered moderately valued vs the market

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is underpriced and is not in the overbought zone

Current price is less than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

RBL Bank Limited is a banking company offering services and products to individuals and small businesses across urban and rural India.

RBL Bank Ltd