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RBI fines HDFC Bank ₹1 crore for violation of KYC norms

RBI fines HDFC Bank ₹1 crore for violation of KYC norms

The RBI has imposed a ₹1-crore penalty on HDFC Bank for not complying with its KYC and anti-money laundering norms. It added that customs authorities had alerted them about certain importers submitting "forged bills of entry" to the bank for remittance of foreign currency. 

Topic: #hdfc bank #rbi
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