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RBI imposes penalty on State Bank of Travancore

State Bank of Travancore announced that the Reserve Bank of India has imposed a monetary penalty of Rs. 1 crore 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 of India under the provisions of Section 47(A) (1) (c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account the violations of the instructions / directions / guidelines issued by the Reserve Bank of India from time to time.

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