RBI imposes monetary penalty on State Bank of India, Canara Bank

RBI imposes penalties on SBI, Canara Bank, and Ocean Capital Market Ltd. for non-compliance. SBI fined Rs 2 crore for regulatory shortcomings. Canara Bank faces a penalty of Rs 32.30 lakh for failing to meet RBI directives. Ocean Capital Market Ltd. fined Rs 16 lakh for breaching NBFC regulations and XBRL platform submissions.