Kolkata Knight Riders captain Shreyas Iyer has been fined Rs 12 lakh for maintaining a slow over-rate during their IPL game against Rajasthan Royals in Kolkata.

KKR lost to Royals by two wickets here on Tuesday with Jos Buttler smashing an unbeaten 107 off 60 balls.

"As it was his team's first offence of the season under the IPL's Code of Conduct relating to minimum over rate offences, Iyer was fined Rs 12 lakhs," said the IPL in a release.

It was the Royals' sixth win in seven matches while KKR suffered their second loss in six games.