- Bank Penalty news: The Reserve Bank of India (RBI) has imposed a fine of ₹1.72 crore on the State Bank of India (SBI) for not following rules related to loans, customer protection, and current accounts.
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Bank Penalty also hits Jana Small Finance Bank with a ₹1 crore fine for violating the Banking Regulation Act.
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These Bank Penalty actions highlight the importance of banks adhering to regulatory norms to protect customers and maintain financial stability.
👉 Why this matters: Ensures banks prioritize customer safety and follow rules to maintain trust in the financial system.
🔗 Source – The Hindu Business Line
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