The Reserve Bank of India (RBI) has imposed a penalty of Rs 1,73,75,000 on The Hongkong and Shanghai Banking Corporation Limited (HSBC Ltd) for the contravention of certain rules under Credit Information Companies Rules, 2006 (CIC Rules).
Get latest articles and stories on Business at LatestLY. The statutory inspection for supervisory evaluation (lSE) of the bank was conducted by RBI with reference to its financial position as on March 31, 2021, and the examination of the Risk Assessment Report and all related correspondences pertaining to the same, the central bank said. Business News | RBI Imposes over Rs 1.73-cr Fine on HSBC for Wrong Credit Card Data.
The Reserve Bank of India (RBI) has imposed a penalty of Rs 1,73,75,000 on The Hongkong and Shanghai Banking Corporation Limited (HSBC Ltd) for the contraventio
The HSBC furnished incorrect credit information in respect of a number of expired credit cards with nil dues to all four credit information companies, the RBI said