Reserve Bank of India Imposes 1 Crore Of Penalty To State Bank Of India

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Latest reports have been coming in from Reserve Bank of India which has imposed 1 Crore of penalty on State Bank of India.

According to reports coming in an order has been released by Reserve Bank of India on November 16th regarding issuing of the penalty.

According to the order that stated that Reserve Bank of India has imposed Rs 1 crore penalty on State Bank of India based on deficiencies in regulatory compliance. 

It is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

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