The Karur Vysya Bank Limited announced that the Reserve Bank of India (RBI) imposed monetary penalty of INRR 2,100/- for the deficiencies observed during processing of soiled note remittances. The said penalty is not material and is in ordinary course of currency chest operations. This penalty has been imposed in accordance with Master Direction DCM (CC) No.G3/03.44.01/2023-24 dated April 03, 2023 on "Scheme of penalties for bank branches and currency chest for deficiency in rendering customer service to the members of public".

Further, the disclosures as required under SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/123 dated July 13, 2023 is enclosed as Annexure-I. Kindly take the same on record.