The Reserve Bank of India has fined HDFC Bank ₹91 lakh for multiple compliance lapses identified during its supervisory inspection of the bank’s 2023–24 financials.
The RBI found issues in how the bank followed rules under the Banking Regulation Act, including irregularities in applying interest-rate benchmarks on loans, shortcomings in outsourcing practices, and gaps in KYC (Know Your Customer) procedures.
The central bank clarified that the penalty is purely for regulatory non-compliance and does not affect the validity of customer transactions. HDFC Bank is expected to strengthen its internal controls to meet all supervisory and operational standards.