NEW DELHI: The Reserve Bank of India (RBI) on Friday imposed Rs 10 crore fine on HDFC Bank for contravention of certain provisions of the Banking Regulation Act, 1949. In an official statement, the central bank said that the action is based on deficiencies in regulatory compliance and will in no way impact its dealing with customers. "The action is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers," the RBI said. The penalty has been imposed in exercise of powers vested in the RBI under provisions of section 47A(1)(c) read with section 46(4)(i) of the Act, the statement further said.