RBI fines HDFC Bank Rs 4.9 lakh and Shriram Finance Rs 2.7 lakh
The Reserve Bank of India (RBI) announced on Friday, July 11, that it has fined HDFC Bank Rs 4.88 lakh and Shriram Finance Rs 2.70 lakh for failing to comply with some of the Central Bank’s directives. “The penalty on HDFC Bank was levied under the provisions of Section 11(3) of the Foreign Exchange Management…