MoneyWorks4Me

RBI imposes penalty of Rs 7 crore on SBI

16 Jul 2019 Evaluate

The Reserve Bank of India (RBI) has imposed an aggregate penalty of Rs 7 crore on State Bank of India (SBI) for non-compliance with the directions issued by it. The statutory inspection of the Bank with reference to its financial position as on March 31, 2017 revealed inter alia violation of directions issued by RBI on Income Recognition and Asset Classification (IRAC) norms etc.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

Peers
Company Name CMP
State Bank Of India 940.65
PNB 115.50
Bank Of Baroda 234.10
Canara Bank 117.20
Union Bank Of India 172.95
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