State Bank of Travancore has informed that the Reserve Bank of India has imposed a monetary penalty of Rs 10 Million on State Bank of Travancore for violation of its instructions, on reporting of data to Central Repository of Information on Large Credits (CRILC). The penalties have been imposed in exercise of powers vested in the Reserve Bank of India under the provisions of Section 47(A) (1) (c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account the violations of the instructions / directions / guidelines issued by the Reserve Bank of India from time to time.
The above information is a part of company’s filings submitted to BSE.
