Mumbai, Aug 7: The Reserve Bank of India has imposed a penalty of Rs 5.62 lakh on State Bank of India for violation of the terms of agreement for opening and maintaining currency chests.
The penalty has been levied in connection with the deficiencies/lapses observed in the operation and maintenance of the Currency Chest at SBI, Secunderabad branch, the RBI said in a statement.
In this regard, the RBI statement referred to paragraph 3 (v) of the circular relating to the scheme of incentives and penalties for bank branches based on performance in rendering customer service.
【News source】
RBI imposes Rs 5.62-lakh penalty on SBI
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