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.