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.

from Economy-News-Economic Times https://ift.tt/3jd3peo