Shares of IDBI Bank fell to 1-week low as the Reserve Bank of India has imposed a penalty of Rs 3 crore ($458,715.60) on the bank for failing to comply with the Income Recognition and Asset Classification norms
The stock dropped as much as 3.1 per cent to Rs 69.8, lowest since April 4. The penalty will not have any material impact on the bank, IDBI said.
The stock had risen 20 per cent this year as of Wednesday's close.