HDFC Bank Fined ₹0.91 Crore by RBI Over Interest Rate and Outsourcing Rule Breach

HDFC Bank Limited has announced that the Reserve Bank of India (RBI) has imposed a monetary penalty of ₹91,00,000 on the bank for multiple regulatory contraventions related to the financial year ending March 31, 2024. The order, dated November 18, 2025, was received by the bank on November 28, 2025.

According to the disclosure filed under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the penalty has been levied under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949. RBI's speaking order highlights contraventions of several regulatory directives by the bank and its subsidiary.

Key regulatory lapses highlighted by RBI include:

• Non-compliance with Section 7(a), (b), and (c) of the RBI Interest Rate on Advances Directions, 2016.

• Violations of outsourcing guidelines as per the RBI circular dated November 3, 2006, specifically relating to risk management and code of conduct in outsourcing of financial services.

• Breaches related to the RBI KYC Directions.

• Contraventions of Section 19(1)(a) read with Section 6(1) of the Banking Regulation Act, 1949.

HDFC Bank confirmed that the lapses identified are related to the bank’s financial position as of March 31, 2024. The penalty amount quantified is ₹0.91 crore, which does not have a material financial impact on the bank.

The bank also stated that corrective actions have already been implemented to address the issues raised by RBI. Its subsidiary, HDB Financial Services (HDBFS), has similarly taken corrective steps and is currently in compliance with the mentioned regulatory directives.

Ajay Agarwal, Company Secretary and Group Head – Secretarial & Group Oversight, affirmed that the information disclosed complies with Regulation 30(13) of the SEBI Listing Regulations and is accurate to the best of his knowledge.

This disclosure has been made for investor awareness and regulatory transparency.