RBI imposes â¹40 lakh penalty on SBI over counterfeit notes
The RBI has levied a â¹40 lakh penalty on SBI for violating rules of detection and impounding of counterfeit notes. The central bank said it had inspected chest of two SBI branches and found the violation of norms. Earlier, RBI imposed a penalty of â¹2 crore on Indian Overseas Bank after a "fraud was detected" at one of its branches.