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The HSBC furnished incorrect credit information in respect of a number of expired credit cards with nil dues to all four credit information companies, the RBI said
The Reserve Bank of India on Monday said it has imposed a penalty of Rs 1.73 crore on HSBC for non-compliance with norms.
The banking regulator said that HSBC violated rules relating to submission of information to all four credit information companies
City Union Bank fell 8.94 per cent to hit a low of Rs 172 on BSE. Despite Wednesday's losses, the scrip is up 43 per cent in the last six months
RBI found the divergence during on-site Inspection for Supervisory Evaluationfor the FY22 from October 7, 2022 to November 18, 2022