RBI imposes penalty on Andhra Bank for violation of KYC, AML norms; stock down 3%

The bank added that it has already taken preventive measures.

Dec 06, 2019 09:12 IST India Infoline News Service

Andhra Bank informed the exchanges that the bank was penalized by RBI for an amount of Rs25 lakh for violation of Know Your Customer (KYC) norms and Anti-Money Laundering (AML) norms as well as standards related to opening of current accounts.

The bank added that it has already taken preventive measures.

Andhra Bank is currently trading at Rs17.60 down by Rs0.65 or 3.56% from its previous closing of Rs18.25 on the BSE.
The scrip opened at Rs18.25 and has touched a high and low of Rs18.25 and Rs17.60 respectively. So far 7,34,351 (NSE+BSE) shares were traded on the counter.

The current market cap of the company is Rs5,446.69cr.

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