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RBI fines SBI ₹1 cr for not monitoring fund use by borrower

The country’s largest lender State Bank of India (SBI) has said the Reserve Bank of India (RBI) has slapped a penalty of ₹1 crore on the lender. The central bank found SBI guilty of not monitoring the end use of funds of one of its borrowers. SBI, however, did not share details of the borrower and the loan amount given.

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