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Current Affairs - 2021
What amount of penalty has been imposed by RBI on SBI for non-compliance of RBI directives related to Frauds classification and reporting by commercial banks and select FIs?
A)
Rs 25 lakh
B)
Rs 50 lakh
C)
Rs 75 lakh
D)
Rs 1 crore

Correct Answer :   Rs 1 crore


The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on India’s largest public lender State Bank of India (SBI) on October 18, 2021. The penalty has been imposed for non-compliance with the directions contained in “RBI (Frauds classification and reporting by commercial banks and select FIs) directions 2016”.

Published On : October 19, 2021
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