RBI Imposes penalty of Rs 75 lakh on HDFC Bank for violating customer KYC directions

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HDFC Bank: The Reserve Bank of India found HDFC Bank violated Know Your Customer (KYC) norms as laid down by RBI’s Master Direction – Know Your Customer (KYC) Direction, 2016. The RBI’s inspection found HDFC Bank allotted multiple customer identification code to certain customers instead of a Unique Customer Identification Code (UCIC) for each customer and 1 other violation.

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RBI Imposes penalty of Rs 75 lakh on HDFC Bank for violating customer KYC directions

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