RBI imposed a fine of Rs 1.72 crore on State Bank of India

• The Reserve Bank of India has imposed a fine of Rs 1.72 crore on State Bank of India.

• This was due to SBI's failure to comply with specific regulatory guidelines.

• The violations included norms related to lending, customer liability in unauthorised digital transactions, and rules for opening current accounts.

• The RBI has also imposed a fine of Rs 1 crore on Jana Small Finance Bank.

• This fine was issued for violating certain provisions of the Banking Regulation Act, 1949.

• The RBI said that these penalties are based on compliance failures.