_______ 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?

October 19, 2021

A) Rs 1 crore
B) Rs 2 crore
C) Rs 50 lakh
D) Rs 75 lakh

Explanation: 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) on October 18, 2021. The penalty has been imposed for non-compliance with the directions contained in “RBI (Frauds classification and reporting by commercial banks and select FIs) directions 2016”.