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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. ....
HDFC Bank FY21 profit rises 18.5% to Rs 31,116.53 crore; no dividend amid COVID uncertainty Amid the second wave of COVID-19 cases, HDFC Bank said that its board of directors has decided not to offer a final dividend for FY21 in view of the persisting uncertainty BusinessToday.In | April 17, 2021 | Updated 17:53 IST HDFC bank posted an 18.5 per cent increase in its net profit for the financial year ended March 31, 2021. The private sector lender registered standalone net profit of Rs 31,116.53 crore during the FY21, as compared to Rs 26,257.32 crore in FY20, according to a regulatory filing. HDFC bank earned Rs 146,063.12 crore during the period under review, as against Rs 138,073.47 crore in the previous fiscal. Net interest income at the end of FY21 stood at Rs 64,879.57 crore, as compared to Rs 56,186.25 crore in FY20, a jump of 15.47 per cent. Net revenue, the sum of net interest income and other income, stood at Rs 90,084.5 crore during the fiscal under revi ....
RBI appoints tech firm to carry out IT infra audit of HDFC Bank RBI s recent order comes after it advised HDFC Bank to temporarily stop all new launches of digital business generating activities planned under its programme Digital 2.0 on December 3, 2020 Manoj Sharma | February 2, 2021 | Updated 11:21 IST HDFC Bank says it will extend cooperation to external professional IT company appointed by RBI After the Reserve Bank of India (RBI) directed HDFC Bank to stop all launches of digital business generating activities after a series of outage incidents, the apex bank has appointed an IT firm for carrying out a special audit of the entire IT infrastructure of India s biggest private lender. The name of the IT firm has not been disclosed so far. ....
HDFC Bank Penalty: SEBI imposes fine of Rs 1 crore, here s how this will affect you SEBI has imposed Rs 1 crore penalty on HDFC Bank because it has sold some of the mortgaged shares of BRH Wealth Kreators. Share Updated: Jan 23, 2021, 11:38 AM IST If your bank account is in HDFC Bank, then this news is very important for you as Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 1 crore on HDFC Bank for invoking securities pledged by stock broker BRH Wealth Kreators. The SEBI has imposed the penalty for violation of its interim directions. SEBI has imposed this penalty on HDFC Bank because it has sold some of the mortgaged shares of BRH Wealth Kreators, which is in violation of the interim order of SEBI. In an order, SEBI has also directed the bank to deposit interest of Rs 158.68 crore held in an escrow account and 7% per annum till a decision is reached in the case. ....