₹1 crore penalty

RBI imposes ₹1 crore penalty on SBI for non-compliance

RBI imposes ₹1 crore penalty on SBI for non-compliance

The Reserve Bank of India (RBI) on October 18, 2021, imposed a monetary penalty of Rs one crore on State Bank of India (SBI) for non-compliance with certain directions. The violation is related to rules pertaining to frauds classification and reporting by commercial banks and select financial institutions, the RBI