RBI imposes penalty of Rs 7 crore on State Bank of India

This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47A (1)(c) read with sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949 (the Act), read a statement by the central bank.

from Banking/Finance-Industry-Economic Times https://ift.tt/2jXVt5f