- RBI has imposed fines on HDFC Bank and Punjab & Sind Bank.
- RBI has imposed fines because they failed to meet regulatory compliance standards.
- HDFC Bank was fined ₹75 lakh as it did not follow RBI's Know Your Customer guidelines.
- Punjab & Sind Bank was fined ₹68.20 lakh. It did not follow RBI guidelines.
- These guidelines were about 'Central Repository of Large Common Exposure' and 'Basic Savings Bank Deposit Account (BSBDA)' under financial inclusion.
Tags:
Economics
