Maharatna PSU Stock: RBI said it has imposed a penalty of Rs 8.80 lakh on PFC for violation of liquidity coverage ratio (LCR) norms.
Maharatna PSU Stock: Reserve Bank of India (RBI) has taken major action against Maharatna company Power Finance Corporation. The central bank has imposed a fine of Rs 8.80 lakh on PFC. RBI said it has imposed a monetary penalty of Rs 8.80 lakh on PFC for violation of Liquidity Coverage Ratio (LCR) norms. Let us tell you that PFC is a multibagger stock. It has given returns of more than 295 percent in one year.
The statutory inspection of the company conducted by RBI, inter alia, revealed that the company did not maintain the prescribed Liquidity Coverage Ratio (LCR) of 60 per cent as on March 31, 2022 as a result of inclusion of ineligible assets as high quality Was. As a result, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for failure to comply with the RBI directions.
After examining the company’s response to the notice, additional submissions made by it and oral submissions made during the personal hearing, RBI came to the conclusion that the allegation of non-compliance with RBI directions was warranted and imposition of monetary penalty was warranted. Done. However, RBI said that this action is based on deficiencies in regulatory compliance and is not intended to adjudicate on the validity of any transaction or agreement entered into by the company with its customers.
Power Finance Corporation Share Price
Talking about the stock returns of Maharatna company Power Finance Corporation (Power Finance Corporation Share Price), it has given returns of more than 295 percent in 1 year. It has increased by 12 percent in 1 month, 74 percent in 3 months and 120 percent in 6 months. The 52 week high of the stock is 464.80 and low is 108.88. The market cap of Maharatna Company is Rs 1,49,791.62 crore. On February 6, the stock closed at 453.90 with a decline of 0.93 percent.
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