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State Bank Of India
BSE: 500112 | NSE: SBIN
Large Cap | Bank - Public
1065.85
1.35 (0.13%) RBI imposes Rs 50 lakh fine on SBI
Date: 05-08-2019The Reserve Bank of India (RBI) has imposed a penalty on State Bank of India (SBI) of Rs 50 lakh for non-compliance relating to reporting of frauds. The RBI in exercise of the powers conferred under various sections of the Banking Regulations Act, has imposed a penalty on the bank for non-compliance with its directions relating to reporting of frauds.
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.