Pursuant to Regulation 30 (4) and other applicable provisions of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, State Bank Of India has informed that Reserve Bank of India (RBI) in exercise of powers vested in RBI under the provisions of section 47A (1) (c) read with sections 46(4)(i) and 51(1), of the Banking Regulation Act, 1949, as applicable has levied monetary penalty of Rs 1 Crore on the Bank for non-compliance with the directions contained in ‘Reserve Bank of India (Frauds classification and reporting by commercial banks and select FIs) directions 2016’.
The above information is a part of company’s filings submitted to BSE.
