RBI imposes Rs 5.6 lakh penalty on SBI

The RBI on Wednesday said it imposed a fine of about Rs 5.6-lakh on SBI for violation of norms in connection with deficiencies and lapses in the operation and maintenance of the currency chest at the Secunderabad branch of SBI. Last month, RBI had imposed a penalty of Rs 3-crore on SBI for violating 'know your customer' (KYC)/anti-money laundering norms.