RBI imposes penalty on HDFC Bank, Shriram Finance

The Reserve Bank of India (RBI) has penalized HDFC Bank Rs 4.88 lakh for violating norms related to foreign investment while granting a term loan. Additionally, Shriram Finance Limited faces a Rs 2.70 lakh penalty for non-compliance with digital lending directions, specifically regarding loan repayments routed through a third-party account instead of directly from borrowers.

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