Mumbai: The Reserve Bank of India (RBI) on Friday imposed a penalty of Rs 10 crore on HDFC Bank Limited for violating provisions of section 6 (2) and section 8 of Banking Regulation Act, 1949.
RBI explained that its action is based on deficiencies in regulatory compliance, and is not intended to pronounce upon the validity of any transaction or an agreement entered into by the bank with its customers, reported NDTV Profit.
According to RBI’s statement, following a whistle blower’s complaint regarding irregularities in the bank’s auto loan portfolio, the central bank examined documents in matters of marketing and sale of third-party non-financial products to the bank’s customers. The probe revealed violation of the above-mentioned provisions of the Banking Regulation Act.
Celebrity couple Abhishek Bachchan and Aishwarya apparently have some problems in their marriage. As news…
Bhubaneswar: A day after indictment of Gautam Adani in the US in a fraud scheme,…
New York: US President-elect Donald Trump on Thursday nominated Pam Bondi, the former attorney general…
Koraput: Police on Friday claimed to have busted a ganja smuggling racket being carried out…
New York: The recent indictment of top executives of Adani Group, including its chairperson Gautam…
Bhubaneswar: The result of the Odisha Teacher's Eligibility Test (OTET)-2024 was announced on Friday. The…
Bhubaneswar: An attempt for an amicable settlement of the dispute, involving Ollywood director Bobby Islam…
Bhubaneswar: Dense fog occurred at one or two places in Sundargarh and shallow to moderate…