RBI imposes Rs 1 crore penalty on State Bank of India - Business News: Latest Share Market , Economy & Finance News | Trendmergers

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RBI imposes Rs 1 crore penalty on State Bank of India

“A scrutiny was carried out by the RBI in a customer account maintained with the bank and the examination of the scrutiny report and all related correspondence pertaining to the same, revealed non-compliance with the aforesaid directions to the extent of delay in reporting of fraud in the said account to RBI,” the regulator said in a statement.

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