RBI slaps Rs 10 crore penalty on HDFC Bank
Shortpedia
Content Team
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RBI has imposed a penalty of Rs 10 crore on HDFC Bank Ltd for deficiencies in regulatory compliance. RBI said that the penalty has been imposed as actions of HDFC Bank were found in contravention of provisions of section 6(2) and section 8 of the Banking Regulation Act, 1949. Notice was subsequently issued to the bank advising it to show cause as to why the penalty should not be imposed for contravention of the provisions of the Act.
