The Karnataka Bank Limited has informed the Exchange about related Party Transactions for the half year ended March 31, 2025
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Karnataka Bank has disclosed its related party transactions for H2 FY25 (October 2024 to March 2025) as required under SEBI LODR Regulation 23(9). The total transaction value during the period stood at ₹7.62 crores. Most of these were routine deposits accepted and withdrawn by the bank's directors, their relatives, the MD & CEO, and the Company Secretary, along with interest paid on those deposits. The largest single transaction was ₹2.43 crores paid to its wholly owned subsidiary, KBL Services Limited, for purchase of goods or services. Closing deposit balances of related parties ranged from negligible to ₹2.55 crores (held by a director's relative). The bank noted that loans and advances are exempt from disclosure, sitting fees are excluded per recent SEBI amendments, and all non-executive director deposits were taken at terms uniformly applicable to the general public.
This is a routine compliance disclosure with no material red flags. Transactions are limited in size and conducted at standard banking terms, with KMPs receiving only a marginal 1% extra interest as permitted by RBI rules. No meaningful impact expected on the stock price or shareholders.