Rbi penalty hdfc bank: The Reserve Bank of India (RBI) has imposed a fine of Rs 75 lakh on HDFC Bank, the largest bank in the private sector. HDFC Bank missed a lapse to follow certain rules, due to which the fine has been imposed. According to the RBI statement, the fine is imposed due to a mistake in compliance with the KYC guidelines.
According to RBI, HDFC Bank did not classify some customers based on their risk category (low, medium or high risk). Also, he released several identity codes instead of giving unique customer identification code to some customers.
Apart from this, RBI also conducted an Inspection for Supervisory evaluation on 31 March 2023 based on the financial situation of the bank.
A NBFC also fined 10 lakhs
RBI has also imposed a fine of Rs 10 lakh on KLM Axiva Finvest. It is a non-deployment medium level NBFC (Non-Banking Financial Company). The fine has been imposed under “RBI (NBFC – Scale Based Regulation) Directions, 2023” due to non -compliance of the rules related to Declaration of Dividends.
The RBI reported that the company declared a dividend for FY 2023-24, while it could not meet the minimum regulatory requirements in the last three financial years.
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