RBI Penalizes HSBC for Non-Compliance with Deposit Rules

Entertainment National Sports Markets Business & Economy Lifestyle World Astrology & Religion Technology Education & Jobs Auto Politics Viral Opinions

Loading more articles...

RBI Fines HSBC Rs 31.8 Lakh for Unclaimed Deposits Non-Compliance

Representational image (Image: News18)

N

News18•20-03-2026, 20:30

RBI Fines HSBC Rs 31.8 Lakh for Unclaimed Deposits Non-Compliance

•The Reserve Bank of India (RBI) imposed a penalty of Rs 31.8 lakh on Hongkong and Shanghai Banking Corporation (HSBC).
•The penalty is for non-compliance with directions regarding inoperative accounts and unclaimed deposits.
•HSBC failed to host a searchable database of unclaimed deposits on its website.
•The bank also did not generate and assign an Unclaimed Deposits Reference Number (UDRN) to certain unclaimed deposits transferred to the DEA Fund.
•RBI clarified that the penalty addresses compliance deficiencies and does not invalidate customer transactions.

Read Full Article on News18 in English

✦

More like this

✦

More like this

Representational image (Image: News18)

RBI slaps Rs 3.1 lakh penalty on Cashfree for non-compliance

Representational image (Image: News18)

CCPA Fines Vajirao & Reddy Institute Rs 15 Lakh for Misleading UPSC Ads

Representational image (Image: News18)

Sebi Fines Anand Rathi Rs 10 Lakh for Cyber Norm Violations

UPSC. (Image shutterstock)

CCPA Fines Vajirao & Reddy Institute ₹15 Lakh for Misleading UPSC Ads

Supreme Court Backs Bank of India in ₹1,500 Cr Fraud Case, Clarifies Rules

Supreme Court Backs Bank of India in ₹1,500 Cr Fraud Case, Clarifies Rules

Representational image (Image: News18)

JP Morgan Chase Settles FPI Rule Violation Case with Sebi for Rs 34.42 Lakh