Lakshmi Vilas Bank’s stocks slump 5% as RBI initiates PCA

Shares of Lakshmi Vilas Bank hit the 5 percent lower circuit on Monday after the Reserve Bank of India (RBI) initiated Prompt Corrective Action (PCA) against it on account of its high non-performing assets (NPA) among other issues.

It hit the lower circuit right at the start of the trading session and fell 4.92 percent lower to hit a 52-week low of Rs 34.75 per share. Trading in the stock has halted since it hit the lower circuit.

Read More: https://www.bhaskarlive.in/lakshmi-vilas-banks-stocks-slump-5-as-rbi-initiates-pca/