RBI has imposed a penalty of Rs 1 crore on an SBI associate
bank i.e. State Bank of Travancore violating some of its instructions including
report of data to Central Repository of Information on Large Credits (CRILC)
which was set up by to collect, store, and disseminate data on all borrowers’
credit exposures.
- Banks are required to report all information including classification of an account as Special Mention Accounts( SMA), on all borrowers having aggregate fund-based and non-fund-based exposure of Rs.5 crore and more than that
Effect of penalty: Shares of State Bank of Travancore have
fallen by 1.5% to quote at Rs.402 on the BSE after the RBI slapped a penalty of
Rs.1 crore on the bank for violation of some of its instructions.
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