Thu Mar 27 04:44:27 UTC 2025: **RBI Imposes Penalties on HDFC Bank, Punjab & Sind Bank for Regulatory Non-Compliance**

**Mumbai, March 27, 2025** – The Reserve Bank of India (RBI) announced today that it has levied penalties on HDFC Bank, Punjab & Sind Bank, and KLM Axiva Finvest for violations of regulatory compliance.

HDFC Bank was fined ₹75 lakh for failing to adhere to RBI guidelines on Know Your Customer (KYC) procedures. Punjab & Sind Bank received a ₹68.20 lakh penalty for non-compliance with directives on creating a central repository of large common exposures and promoting financial inclusion through Basic Savings Bank Deposit Accounts (BSBDA). Additionally, KLM Axiva Finvest was fined ₹10 lakh for irregularities in dividend declarations.

The RBI emphasized that these penalties are solely for regulatory non-compliance and do not reflect on the validity of any customer transactions or agreements.

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