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RBI fines HDFC Bank Rs 10 crore over regulatory violations
The action has been taken after RBI looked into a whistleblower complaint about irregularities in HDFC Bank s vehicle loan division
BusinessToday.In | May 29, 2021 | Updated 02:08 IST
Reserve Bank of India has imposed a Rs 10 crore fine on HDFC Bank. The monetary penalty has been imposed on the private sector lender for contravention of provisions of section 6(2) and section 8 of the Banking Regulation Act, 1949, the central bank said in a statement on Friday.
This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers, RBI clarified. ....

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