• Notification Date: 04-03-2025
• Notification No: N/A

RBL Bank Shares Fall 2.8% Following GST Raids at Maharashtra Offices

RBL Bank shares declined strongly on Tuesday, losing 2.8% to Rs. 150.65 on the Bombay Stock Exchange (BSE). This decline comes after Maharashtra State Goods and Services Tax (GST) officials raided three offices of the bank in Maharashtra.

The search operations were carried out under Section 67 of the Maharashtra Goods and Services Tax (MGST) Act, 2017, which allows the authorities to probe any potential GST-related offenses. While the searches have raised concern in the market, RBL Bank has ensured its stakeholders that it is working closely with the authorities and providing all the information needed for the on-going investigation.

Despite the fall in share price, the willingness and readiness of the private sector lender to cooperate with the investigation can help restore investor confidence in the long term. As the drama continues to play out, all eyes will be on how the authorities respond and what further impact this will have on the bank's bottom line.

Investors and stakeholders are encouraged to remain up to speed on developments as RBL Bank fights through this difficult period.