General Announcement::Intimation

Issuer & Securities

Issuer/ Manager
HDFC BANK LIMITED
Securities
HDFCBANK INR23B 8.1%N250322 - XS1794215696 - 8NPB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
01-Dec-2023 16:46:23
Status
New
Announcement Sub Title
Intimation
Announcement Reference
SG231201OTHRFSOG
Submitted By (Co./ Ind. Name)
Dhanjit Thaivalappil
Designation
Deputy Vice President
Description (Please provide a detailed description of the event in the box below)
A penalty of Rs. 10,000 is imposed on the Bank for contraventions of the directions issued by the Reserve Bank of India ( RBI ) in exercise of the powers conferred to RBI under Section 11(3) of FEMA, 1999

The details are as follows:


Sr. No Particulars Details
1 Name of the authority Reserve Bank of India
2 Nature and details of the action(s) taken, initiated or order(s) passed: An aggregate penalty of INR 10,000 (Rupees Ten Thousand Only) on HDFC Bank in exercise of the powers conferred to RBI under Section 11(3) of FEMA, 1999
3 Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority November 30, 2023
4 Details of the violation(s)/contravention(s) committed or alleged to be committed: HDFC Bank did not obtain RBI s approval for maintaining current and fixed deposit accounts of a foreign bank post cancellation of their license by RBI, which was in contravention to the para 13 of AP (DlR Series) Circular no. 67 dated May 05, 2016
5 Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible Nil

The Bank shall take necessary steps to ensure that requisite checks and balances are in place, to avoid recurrence of any such contravention in future.

Attachments

SGXRBIpenalty30112023.pdf
Total size =502K