RBI imposes Rs1cr penalty on SBI

The penalty has been imposed for not monitoring the end use of funds in respect of one of its borrowers

Feb 08, 2019 08:02 IST India Infoline News Service

State Bank of India (SBI), in its filing to the exchanges informed that the Reserve Bank of India (RBI) imposed a penalty of Rs1cr for not complying with rules.

"Penalty has been imposed for not monitoring the end use of funds in respect to one of its borrowers," the bank said in a press note after market hours to the exchanges on Thursday.

On Tuesday, the RBI had imposed a penalty of Rs2cr on Axis Bank, UCO Bank, and Rs1cr penalty on Syndicate Bank for violation of norms.
State Bank of India's share price ended at Rs287.60, down by Rs0.6 or 0.21%, from its previous close of Rs288.20 on the BSE.
The scrip opened at Rs289.80 and touched a high and low of Rs294 and Rs286.85, respectively. A total of, 2,15,32,912 (NSE+BSE) shares have traded on the counter. The current market cap of the company is Rs2,56,671.14cr.

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