RBI imposes penalty on HDFC Bank & Mannakrishna Investments
RBI imposed a ₹91 lakh fine on HDFC Bank for violations of the Banking Regulation Act, KYC norms, and outsourcing rules, and a ₹3.10 lakh penalty on Mannakrishna Investments for governance lapses; the penalties relate strictly to compliance deficiencies.
New Delhi, November 28, 2025 The Reserve Bank of India (RBI) has fined two financial institutions for failing to comply with regulations. HDFC Bank Limited faced a significant penalty of ₹91 lakh for several violations of the Banking Regulation Act, 1949.
These included problems with subsidiary activities and violations related to KYC, outsourcing, and interest rate setting.
This last issue involved using multiple benchmarks for the same loan category. In a separate case, Mannakrishna Investments Private Limited, a non-banking financial company (NBFC), was fined ₹3.10 lakh for governance failures. Specifically, it changed its board composition without getting the necessary approval from the RBI.
The RBI stated that these penalties only target compliance issues and do not impact customer transactions.