State Bank Of India

Reserve Bank of India (RBI) has imposed a penalty of Rs 1 crore on State Bank of India (SBI) for delayed implementation of the daily reconciliation of Swift transaction logs w.e.f. February 20, 2018 at 226 'low intensity branches' of the Bank.

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.