RBI imposes penalty on HSBC
The Reserve Bank on Friday said it has imposed a Rs 31.8 lakh penalty on Hongkong and Shanghai Banking Corporation for non-compliance with certain directions on inoperative accounts and unclaimed deposits.
The Reserve Bank on Friday said it has imposed a Rs 31.8 lakh penalty on Hongkong and Shanghai Banking Corporation for non-compliance with certain directions on inoperative accounts and unclaimed deposits.
In a statement, the Reserve Bank said a statutory inspection for supervisory evaluation of the bank was conducted with reference to its financial position as of March 31, 2025.
Based on supervisory findings of non-compliance with the provisions of RBI directions and related correspondence, a notice was issued to the bank.
