What amount of penalty has been imposed by RBI on SBI for non-compliance of RBI

Question

What amount of penalty has been imposed by RBI on SBI for non-compliance of RBI directives related to Frauds classification and reporting by commercial banks and select FIs?

Options:

A . Rs 50 lakh

B . Rs 75 lakh

C . Rs 1 crore

D . Rs 2 crore

Answer: Option C

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on India's largest public lender State Bank of India (SBI).

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