RBI imposes Monetary Penalty on State Bank of Travancore

RBI imposes Monetary Penalty on State Bank of Travancore

Ques : Recently how many monetary penalty has been imposed by Reserve Bank of India on State Bank of Travancore for violation of its instructions?

(a) 1.5 crore
(b) 1 crore
(c) 50 million
(d) 2 crore

Ans (b)

Related facts

  • January 4, 2015 the Reserve Bank of India has imposed monetary penalty of 10 Million on State Bank of Travancore for violation of its instructions, inter alia, on reporting of data to Central Repository of Information on Large Credits (CRILC).
  • The penalties have been imposed in exercise of powers vested in the Reserve Bank under the provisions of the Banking Regulation Act, 1949.

Reference

https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=35878