 "HDFC Bank")
The Reserve Bank of India (RBI) has fined HDFC Bank Rs 1 crore for non-compliance with the central bank’s norms on ‘know your customer (KYC)/anti-money laundering (AML)’ and ‘reporting of frauds’.
“This action is based on 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 RBI said in a statement on its website.
Elaborating on the background, the RBI said it had received a reference from Customs authorities regarding submission of forged bill of entries by certain importers to the
“This action is based on 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 RBI said in a statement on its website.
Elaborating on the background, the RBI said it had received a reference from Customs authorities regarding submission of forged bill of entries by certain importers to the
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