{"id":7795,"date":"2020-01-31T05:33:24","date_gmt":"2020-01-31T05:33:24","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=7795"},"modified":"2020-01-31T05:33:25","modified_gmt":"2020-01-31T05:33:25","slug":"rbi-imposes-rs-1-crore-penalty-on-hdfc-bank","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/rbi-imposes-rs-1-crore-penalty-on-hdfc-bank\/","title":{"rendered":"RBI imposes Rs 1 crore penalty on HDFC Bank"},"content":{"rendered":"\n

Reserve Bank of India has imposed a penalty of Rs 1 crore on\nHDFC Bank for non-compliance with Know Your Customer (KYC) norms. Supervisory\nevaluation of the bank (2016-17) revealed that the HDFC Bank had “failed\nto exercise ongoing due diligence” with regards to 39 current accounts\nopened by its customers for bidding in Initial Public Offer.<\/p>\n\n\n\n

Daily Current\nAffairs Quiz 2020<\/strong><\/a><\/p>\n\n\n\n

The RBI had issued a notice to the bank to show cause as to\nwhy penalty should not be imposed for non-compliance with the direction. It was\nobserved that the transactions effected in these current accounts were\ndisproportionate to the declared income and profile of the customers. RBI came\nto the conclusion that imposition of monetary penalty was warranted.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reserve Bank of India has imposed a penalty of Rs 1 crore on HDFC Bank for non-compliance with Know Your Customer (KYC) norms. Supervisory evaluation of the bank (2016-17) revealed that the HDFC Bank had “failed to exercise ongoing due diligence” with regards to 39 current accounts opened by its customers for bidding in Initial […]<\/p>\n","protected":false},"author":13,"featured_media":7796,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[871],"tags":[64],"class_list":["post-7795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-january-2020","tag-reserve-bank-of-india-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/7795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=7795"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/7795\/revisions"}],"predecessor-version":[{"id":7797,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/7795\/revisions\/7797"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/7796"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=7795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=7795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=7795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}