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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.
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