BANK NEWS
RBI imposed a penalty on HDFC Bank of Rs 10 lakh
New Delhi: The Reserve Bank of India (RBI) has imposed a penalty of Rs 10 lakh on the largest private sector bank, HDFC Bank. HDFC has given this information in the Stock Exchange Filing.
Due to the failure to maintain the mandatory minimum capital in Subsidiary General Ledger by HDFC Bank failed which leads towards the SGL Bounce. The order was made by RBI to HDFC Bank on December 9 and it has been revealed on the next day i.e. December 10.
RBI said in its notification that "HDFC has imposed a monetary penalty of Rs 10 lakh for SGL bounce. On November 19, the bank's CSGL account (Constituent Subsidiary General Ledger, CSGL Account) has lost balance in some securities. Following this RBI order, shares of HDFC Bank (Shares of HDFC Bank) were seen trading at Rs 1,384.05 on Friday."
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