Business
RBI levies Rs 7 cr fine on SBI for non-compliance of norms
Mumbai, July 15: The Reserve Bank of India on Monday said that it has imposed a penalty of Rs 7 crore on State Bank of India for non-compliance of several norms.
"This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers," the RBI said in a statement.
According to the RBI, the statutory inspection of the bank with reference to its financial position as on March 31, 2017 revealed non-compliance with "Income Recognition and Asset Classification" norms and reporting of data on "Central Repository of Information on Large Credits", among others.
29 minutes ago
Pakistan to tour Ireland first time since 2018 for T2OI series in May
30 minutes ago
IPL 2024: 'Nortje is going to keep getting better', says DC bowling coach Hopes after 12-run loss to RR
33 minutes ago
Tamannaah all praise for designer Rahul Mishra; says his “creativity is pure genius”
35 minutes ago
Utpal Dutt: The professor-playwright who became a comic star, chilling villain in Bollywood and Tollywood
36 minutes ago
Alia Bhatt hosts Hope Gala in London, says happy to play small part in helping children reshape their narratives
37 minutes ago
Sonu Sood comes down on cricket fans: ‘One day you cheer for them, next day you boo them’
39 minutes ago
OAFF says ‘Bechaini’ evokes ‘feeling of childhood love and innocence’
40 minutes ago
Salman's update on ‘Dabangg 4': ‘Jaise hi dono bhai ek script mein lock hojayengay’
41 minutes ago
‘The Sabarmati Report’ teaser gives peek into 'hidden' story behind Godhra train tragedy
42 minutes ago
Allu Arjun gets wax statue at Madame Tussauds Museum in Dubai
43 minutes ago
‘Civil War’ to open Red Lorry Film Festival in Mumbai
45 minutes ago
FTX CEO Sam Bankman-Fried sentenced to 25 years in prison
46 minutes ago
Centre issues order on wheat stock declaration by traders to keep prices in check