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RBI Imposes Rs 1.72 Cr Penalty Against SBI
The Sunday Guardian
|May 11, 2025
The Reserve Bank of India (RBI) has penalised the State Bank of India with Rs 1.72 crore for non-compliance with certain directions.
As per a statement from the RBI, the state-owned lender failed to comply with certain directions issued by RBI on 'Loans and Advances- Statutory and Other Restrictions', 'Customer Protection - Limiting Liability of Customers in Unauthorised Electronic Banking Transactions' and 'Opening of Current Accounts by Banks - Need for Discipline'.
This penalty has been imposed under the Banking Regulation Act, 1949.
A Statutory Inspection for Supervisory Evaluation (ISE 2023) of the bank was conducted by RBI with reference to its financial position as on March 31, 2023.
This story is from the May 11, 2025 edition of The Sunday Guardian.
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