The Karur Vysya Bank Limited announced that the Reserve Bank of India (RBI) imposed monetary penalty of INR 10,000 for the instance of cash-outs in ATM. The penalty is not material and is in ordinary course of ATM related 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 chests for deficiency in rendering customer service to the members of public.

Communication received on June 29, 2024. Instance of cash-outs in ATM reported during the month of April 2024.