RBI imposes monetary penalty on HDFC Bank Ltd
RBI takes action against HDFC Bank based on the 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 imposes monetary penalty on HDFC Bank Ltd
New Delhi, July 12, 2025: The Reserve Bank of India has imposed a monetary penalty of Rs 4.88 lakh on HDFC Bank Ltd. in exercise of powers vested in the Reserve Bank under the provisions of Section 11(3) of FEMA, 1999.
According to the press release, the Reserve Bank of India had issued a Show Cause Notice to the bank, in response to which the bank had submitted a written reply and had also made oral submissions thereon. After considering the facts of the case and the response given by HDFC Bank Ltd. in the matter, the Reserve Bank of India came to the conclusion that the contraventions were established and warranted the imposition of a penalty.
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This action is based on the 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, the release added.
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