August 07, 2013 / 21:30 IST
Moneycontrol Bureau
The Reserve Bank of India has imposed a penalty of Rs 5,62,555 on the
State Bank of India (SBI) on July 12, 2013 for violation of the terms of agreement with the central bank in relation to opening and maintaining currency chests.
"The above penalty has been levied in connection with the deficiencies/lapses observed in the operation and maintenance of the Currency Chest at SBI, Secunderabad branch," RBI said in a release on Wednesday.
At 15:15 hours SBI shares were trading at Rs 1711, up 4 percent on NSE.
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