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The RBI said in a statement on Monday that a penalty of Rs 2 crore has been imposed on SBI for violating certain rules related to the Depositor Education Awareness Fund Scheme, 2014

RBI imposes heavy fine on Canara Bank & SBI along with THESE banks…

While imposing the fines, RBI clearly mentioned that the action is base on deficiencies in regulatory compliance and is not questioning the validity of any transaction

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RBI imposes heavy fine on Canara Bank & SBI along with THESE banks…

Axis, UCO, Syndicate Bank fined by RBI over violations