The announcement was made on Saturday, 23 March 2019.

Meanwhile, the S&P BSE Sensex was down 410.31 points, or 1.08% to 37,754.30.

On the BSE, 1.22 lakh shares were traded in the counter so far compared with average daily volumes of 3.32 lakh shares in the past two weeks. The stock had hit a high of Rs 126.05 and a low of Rs 123.75 so far during the day. The stock hit a 52-week high of Rs 134.45 on 20 March 2019. The stock hit a 52-week low of Rs 92.30 on 25 October 2018.

Karnataka Bank has reported a fraud to the Reserve Bank of India (RBI) amounting to Rs 13.26 crore in the fund based working capital facility that was extended to SRS Finance, on account of diversion of funds. The said working capital facility was extended by the bank under multiple banking arrangement and necessary accounting treatment has already been given as per the extant RBI Guidelines.

Net profit of Karnataka Bank rose 60.69% to Rs 140.41 crore on 18.92% rise in total income to Rs 1815.79 crore in Q3 December 2018 over Q3 December 2017.

Karnataka Bank is a scheduled commercial bank in India.

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Karnataka Bank has reported fraud to RBI amounting to Rs.13.26 crore in the fund based working capital facility that was extended to SRS Finance, on account of diversion of funds. The said working capital facility was extended by the Bank under Multiple Banking arrangement and necessary accounting treatment has already been given as per the extant RBIGuidelines.

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Karnataka Bank to allot 32000 rated, unsecured, redeemable, non-convertible, Basel III compliant Lower Tier 2 subordinated bonds in the nature of debentures bearing a face value of Rs 1 lakh each aggregating to Rs 320 crore to investors on private placement basis.

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Net profit of Karnataka Bank rose 60.69% to Rs 140.41 crore in the quarter ended December 2018 as against Rs 87.38 crore during the previous quarter ended December 2017. Total Operating Income rose 13.67% to Rs 1514.42 crore in the quarter ended December 2018 as against Rs 1332.24 crore during the previous quarter ended December 2017.

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