RBI imposes 1.73 crore penalty on HSBC

RBI imposes 1.73 crore penalty on HSBC

Daily Current Affairs   /   RBI imposes 1.73 crore penalty on HSBC

Change Language English Hindi

Category : Business and economics Published on: May 13 2023

Share on facebook
  • RBI has imposed a monetary penalty of Rs 1.73 crore on Hongkong and Shanghai Banking Corporation Ltd (HSBC) for contravention of Credit Information Companies Rules, 2006.
  • 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.
  • Besides, the RBI imposed a monetary penalty of Rs 2 lakh on the Trichur Urban Co-operative Bank Ltd, Thrissur, Kerala for non-compliance with directions issued by the central bank on Management of Advances – UCBs.
  • RBI has also imposed a monetary penalty of Rs 1.25 lakh on Bhilai Nagarik Sahakari Bank Maryadit, Bhilai (Chhattisgarh) for contravention of/non-compliance with the provisions of the Banking Regulation Act, 1949, and the Depositor Education and Awareness Fund Scheme, 2014.
Recent Post's
  • LoIs issued to 4 foreign universities; ₹4,000 crore education projects announced at ABSS.

    Read More....
  • Kaziranga becomes India's third-highest tiger density reserve after Bandipur and Corbett.

    Read More....
  • St. Aloysius student sets world record with 170-hour Bharatanatyam performance.

    Read More....
  • Divyanshi wins U-19 WTT title; Priyanuj clinches gold in U-17 boys’ final.

    Read More....
  • Goa Shipyard launches 6th indigenous Fast Patrol Vessel, ICGS ATAL.

    Read More....
  • July 30 marked as World Day Against Trafficking with focus on criminal exploitation.

    Read More....
  • RBI caps investment in AIF schemes to 10% per bank/NBFC.

    Read More....
  • PM Modi releases ₹1,000 coin marking 1,000 years of Rajendra Chola’s naval campaign.

    Read More....
  • Death toll in Gaza crosses 60,000; over half are women and children.

    Read More....
  • Ex-Twitter CEO Jack Dorsey launches offline messaging app Bitchat.

    Read More....