HDFC Bank Penalized by RBI for Regulatory Non-Compliance

Hdfc Bank (HDB) has released an update.

HDFC Bank has been fined Rs. 1 crore by the Reserve Bank of India for non-compliance with directives on ‘Interest Rate on Deposits’ and ‘Recovery Agents engaged by Banks’. The penalty is based on the bank’s financial position as of March 31, 2022, and the bank has taken corrective measures to comply with the regulations. This financial impact is significant for stakeholders tracking the bank’s adherence to regulatory standards.

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