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What amount of monetary penalty have been imposed by RBI on the HDFC Bank for violating regulatory compliance in regards to Banking Regulation Act, 1949 related to the auto loan portfolio of the bank?
  • a)
    Rs 5 crore
  • b)
    Rs 10 crore
  • c)
    Rs 15 crore
  • d)
    Rs 20 crore
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
What amount of monetary penalty have been imposed by RBI on the HDFC B...
The Reserve Bank of India has imposed a fine of Rs 10 crore  on HDFC Bank for deficiencies in regulatory compliance found in the auto loan portfolio of the bank. As per the RBI, HDFC Bank has violated the provisions of section 6(2) and section 8 of the Banking Regulation Act, 1949.
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What amount of monetary penalty have been imposed by RBI on the HDFC Bank for violatingregulatory compliance in regards to Banking Regulation Act, 1949 related to the auto loan portfolio of the bank?a)Rs 5 croreb)Rs 10 crorec)Rs 15 crored)Rs 20 croreCorrect answer is option 'B'. Can you explain this answer?
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