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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 21-NOV-2024

PRIVATE BANKS: GAVE GIFTS (IN THE FORM OF PAYING FIRST-YEAR PREMIUM FOR COMPLIMENTARY LIFE INSURANCE COVER) COSTING MORE THAN RS.250 TO THE DEPOSITORS AT THE TIME OF ACCEPTING CERTAIN DEPOSITS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person HDFC BANK LTD.
  GAVE GIFTS (IN THE FORM OF PAYING FIRST-YEAR PREMIUM FOR COMPLIMENTARY LIFE INSURANCE COVER) COSTING MORE THAN RS.250 TO THE DEPOSITORS AT THE TIME OF ACCEPTING CERTAIN DEPOSITS

OPENED SEVERAL SAVINGS DEPOSIT ACCOUNTS IN THE NAME OF INELIGIBLE ENTITIES

DID NOT ENSURE THAT CUSTOMERS ARE NOT CONTACTED AFTER 7 PM AND BEFORE 7 AM   		IMPOSED PENALTY RS.1,00,00,000

03-SEP-2024 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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