Case Brief
What Happened
The Reserve Bank of India imposed a monetary penalty of ₹10 million on State Bank of Travancore for violating its instructions, including those relating to reporting of data to the Central Repository of Information on Large Credits (CRILC). RBI said the bank had not complied with directions on submission of accurate data to CRILC and, after examining the bank’s reply and submissions, concluded that the violations warranted penalty under Section 47(A)(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.