What 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?

• A. Rs 2 crore
• B. Rs 50 lakh
• C. Rs 1 crore
• D. Rs 75 lakh

Answer: (C)

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).