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State Bank of India

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

Back to profile3 entries

  1. 2026

    SBI discloses exposure of customer records

    Issue disclosure

    State Bank of India clarified that it experienced a data breach after 3,897 customer records were found exposed on the dark web. The bank said it was investigating the nature and extent of the alleged compromise and implementing remedial and preventive measures.

    Company response

    • Investigation — State Bank of India

      The bank said a detailed investigation is underway to establish authenticity and completeness of the exposed data, determine potential source and extent of exposure and assess associated risks.

    • Remediation — State Bank of India

      appropriate remedial and preventive measures are being implemented.

    Source excerpt

    • State Bank of India (SBI) -- India's largest lender -- on Wednesday clarified that it experienced a data breach with 3,897 customer records found exposed on the dark web.
    • Earlier in the week, an unidentified hacker group operating under the name ‘Siriusim’ claimed to have obtained confidential customer information allegedly linked to the State Bank of India (SBI), including personal details, loan applications and account-opening documents.
    • New Delhi: State Bank of India (SBI), India’s largest lender, on Wednesday, October 21, clarified that it experienced a data breach with 3,897 customer records found exposed on the dark web.
    Source

  2. 2021

    RBI fines State Bank of India for delayed fraud reporting

    Fine or penalty

    The Reserve Bank of India fined State Bank of India Rs 1 crore after the lender delayed reporting fraud in a customer account to the central bank.

    Source excerpt

    • On SBI, the central bank said the lender delayed reporting fraud in a customer account to it.
    • Mumbai: The Reserve Bank of India on Monday slapped a penalty of Rs 1 crore on State Bank of India and Rs 1.95 crore on Standard Chartered Bank for violations of its rules in separate incidents.
    Source

  3. 2020

    SEBI fines SBI, LIC and Bank of Baroda

    Fine or penalty

    In a regulatory action, the Securities and Exchange Board of India imposed penalties of Rs 10 lakh each on State Bank of India, Life Insurance Corporation of India and Bank of Baroda. The fines were levied for violations of mutual fund regulations. The event was reported on 14 August 2020. The action concerned the three institutions' compliance with mutual fund norms.

    India's Securities and Exchange Board imposed penalties of Rs 10 lakh each on State Bank of India, Life Insurance Corporation of India and Bank of Baroda for violations of mutual fund regulations.

    Source excerpt

    • The Securities and Exchange Board of India (SEBI) on Friday imposed penalties of Rs 10 lakh each on the State Bank of India (SBI), the Life Insurance Corp of India (LIC) and the Bank of Baroda (BoB) for violation of its mutual fund regulations.
    Source