Breaking News

You are here » Indian-Commodity  :  Top News  :  RBI levies monetary penalty of Rs 2 million on HDFC Bank

13-Feb2019

RBI levies monetary penalty of Rs 2 million on HDFC Bank

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 2 million on HDFC Bank for non‐compliance with various directions issued by RBI on Know Your Customer (KYC)/Anti‐Money  Laundering  (AML)  standards,  more  specifically  those  contained  in  their  circulars  dated  November 29, 2004 and May 22, 2008.

The Bank has since implemented corrective action to strengthen its internal control mechanisms so as to ensure that such incidents do not recur.

HDFC Bank is one of India's premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.


Related News

View all news

Turmeric futures trade higher on rising demand

Turmeric futures traded higher on NCDEX as market participants enlarged their holdings on account of rising demand for standing crop in the physical market. Moreover, government procurement in some states......

Coriander futures trade up on restricted arrivals

Coriander futures traded up on NCDEX as speculators built up fresh positions amid rising spot demand. Besides, tight stocks on account of restricted arrivals from major growing regions also fuelled the......

Cotton futures trade down on profit booking

Cotton futures traded down on MCX on profit booking after prices gained on reports of lower production in major growing regions. However, increased demand for crop from major cotton consumers, trimmed......

Top News

View all news

Quess Corp, Ashoka Buildcon and ICICI Bank to see some action today

Quess Corp's subsidiary Conneqt Business Solutions has signed definitive agreements to acquire a majority stake in Allsec Technologies. The transaction involves Conneqt purchasing 35.35% from the promoters,......

Quess Corp's arm to acquire majority stake in Allsec Technologies

Quess Corp's subsidiary -- Conneqt Business Solutions has signed definitive agreements to acquire a majority stake in Allsec Technologies. The transaction involves Conneqt purchasing 35.35% from the promoters,......

Ashoka Buildcon's JV receives LoA from Rail Vikas Nigam

Ashoka Buildcon's Joint Venture (JV) -- ABL-STS JV, wherein the Company is lead member, has received a Letter of Award (LoA) from Rail Vikas Nigam (RVNL). The accepted Bid Value of the Project is Rs 443.23......