Comments
Private sector lender HDFC Bank, on Thursday, said the Reserve Bank of India has imposed a penalty of ₹10 lakh on it.
“The RBI has, vide its letter dated December 4 (which was received by the bank on December 9), imposed a monetary penalty of ₹10 lakh on the bank for bouncing of SGL, which lead to shortage of balance in certain securities in the bank’s CSGL account on November 19,” it said in a regulatory filing.
The bank has since enhanced its review mechanism to ensure that such incidents do not recur, it further said.
On Thursday, HDFC Bank scrip closed 1.42 per cent lower at ₹1,385.85 apiece on the BSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.