HomeNewsBankingRBI fines Rs 1 crore penalty on SBI

RBI fines Rs 1 crore penalty on SBI

Contents

RBI fines Rs 1 crore penalty on SBI

On 18th October 2021, The Reserve Bank of India (RBI) has fined a monetary penalty of Rs 1 crore on State Bank of India (SBI). State Bank of India (SBI) is India’s largest public lender bank.

  • RBI imposed a penalty for non-compliance with the directions contained in “RBI (Frauds classification and reporting by commercial banks and select FIs) directions 2016” under the provisions of section 47A (1) (c) read with sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.

Also Read: SBI launches NAV-eCash Card for Indian Navy onboard INS Vikramaditya

About Reserve Bank of India (RBI) –

  • Governor: Shaktikanta Das
  • Headquarters: Mumbai
  • Founder: British Raj
  • Founded: 1 April 1935, Kolkata

Also Read: BharatPe launches ‘Buy Now, Pay Later’ platform- “postpe”

About State Bank of India (SBI) –

  • Chairperson: Dinesh Kumar Khara
  • Founded: 1 July 1955
  • Headquarters: Mumbai

.

📣 Prepare Exams is now on Facebook, Twitter, Instagram, YouTube Channel, and Google News to get all the latest News first Like, Follow and bookmark our website @ PrepareExams.com.

For all the latest Updates, download PrepareExams App.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Advertisement

Latest Articles