RBI Fines HDFC Bank INR 91 Lakh Over KYC, Outsourcing Lapses

The Reserve Bank of India fined HDFC Bank ₹91 lakh for regulatory breaches found in a March 2024 inspection. Violations involved KYC lapses, inconsistent loan benchmarks, and improper outsourcing. A subsidiary also engaged in prohibited business activities. The penalty, issued under the Banking Regulation Act, addresses compliance failures, not the bank’s financial standing.