RBI imposes monetary penalty of Rs. 1 crore on SBI

The Reserve Bank of India (RBI) has, vide its letter dated November 26,2021 imposed a monetary penalty of Rs. 1.00 crore (Rupees One crore only) on the State Bank of India for contravention of provision of sub section (2) of Section 19 of the Banking Regulation Act, 1949. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with sections 46 (a) (i) and 51 (1) of the Act.

Shares of State Bank of India was last trading in BSE at Rs. 470.50 as compared to the previous close of Rs. 490.55. The total number of shares traded during the day was 1058798 in over 25972 trades.

The stock hit an intraday high of Rs. 487.60 and intraday low of 467.25. The net turnover during the day was Rs. 502758140.00.

Source : Equity Bulls

Keywords

StateBankofIndia INE062A01020 SBIN Banks MonetaryPenalty RBI