RBI fines HSBC Rs 1.74 cr over compliance violation

Representative image. Credit: Reuters Photo

The Reserve Bank of India on Monday said it imposed a fine of Rs 1.74 crore ($212,752.95) on The Hongkong and Shanghai Banking Corporation Limited (HSBC), citing "deficiencies in regulatory compliance".

The central bank added that HSBC violated rules relating to submission of information to the country's credit information bureaux.

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