On Wednesday, after market closure, RBL Bank issued a Presser which was to clarify its financial position amidst the Covid.
Though the company said that its earnings were strong and liquidity was comfortable, with stable asset quality in the Presser, in an interview with Bloomberg, the CEO said that in the current circumstance, increased stress would be unavoidable for the bank.
The CEO expects higher slippages in small and medium enterprises segment due to the lockdown and said that some of this impact has already started showing in the March quarter numbers.
This has most certainly spooked the market and it is currently the top loser on the BSE. It touched the 20% LC and a new low at Rs.111.65.