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RBI imposes monetary penalty of Rs 1.72 crore on SBI
May-10-2025

The Reserve Bank of India (RBI) has imposed monetary penalty of Rs 1.72 crore on State Bank of India (SBI) for non-compliance with certain directions issued by RBI on ‘Loans and Advances Statutory and Other Restrictions’, ‘Customer Protection - Limiting Liability of Customers in Unauthorised Electronic Banking Transactions’ and ‘Opening of Current Accounts by Banks - Need for Discipline’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.

State Bank of India is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

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