Exhibit 99
September 12, 2024
New York Stock Exchange
11, Wall Street,
New York,
NY 10005
USA
Dear Sir,
Sub: Disclosure
We hereby inform that, a penalty of Rs. 1 crore has been imposed on the Bank by the Reserve Bank of India, for matter(s) mentioned in the below table.
Sr. no | Particulars | Details | ||
1. | Name of the authority | Reserve Bank of India | ||
2. | Period Involved | Financial position as on March 31, 2022 | ||
3. | Nature and details of the action(s) taken, initiated or order(s) passed | Penalty has been imposed in exercise of powers vested in RBI conferred under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) of the Banking Regulation Act, 1949 and emanates from statutory inspections of the Bank with reference to its financial position as on March 31, 2022 | ||
4. | Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority. | September 10, 2024 | ||
5. | Details of the violation(s)/contravention(s) committed or alleged to be committed | RBI imposed the above penalty in view of non-compliance with the Reserve Bank directions on ‘lnterest Rate on Deposits’ and ‘Recovery Agents engaged by Banks’. | ||
6. | Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible | Rs. 1 crore (Rupees One crore only) | ||
The Bank has already initiated / taken corrective measures, as necessary, to align the operations / procedures in line with the applicable regulations.
We request you to bring the above to the notice of all concerned.
Yours faithfully,
For HDFC Bank Limited
Sd/-
Ajay Agarwal
Company Secretary & Head – Group Oversight
