ADVERTISEMENT
RBI Imposes Rs 1 Crore Penalty On State Bank Of India For Violating Norms
26 Nov 2021, 07:10 PM IST i

Save

Shares of State Bank of India settled 4.09 per cent lower at Rs 470.50 apiece on BSE
The Reserve Bank of India (RBI) today imposed a monetary penalty of Rs 1 crore on the country's largest lender State Bank of India (SBI) For holding shares in the borrower companies of an amount exceeding 30 per cent of the paid-up share capital of those companies. The RBI imposed the penalty for the contravention of sub-section (2) of section 19 of the Banking Regulation Act, 1949, according to its statement on Friday, November 26.
ADVERTISEMENT