RBI imposes penalty on HDFC Bank, Shriram Finance
MUMBAI, Jul 11 (PTI): The Reserve Bank on Friday said it has imposed a Rs 4.88 lakh penalty on HDFC Bank for contravention of certain norms relating to foreign investment in India while granting a term loan to its client.
The central bank also imposed a penalty of Rs 2.70 lakh on Shriram Finance Limited for non-compliance with certain provisions of the "Reserve Bank of India (Digital Lending) Directions, 2025".
Regarding the penalty on authorised dealer bank - HDFC Bank, the RBI said it had issued a show cause notice to the bank, in response to which the bank had submitted a written reply and had also made oral submissions thereon.
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BJP files complaint over wall demolition, tree felling in Freedom Park for Rahul Gandhi’s event
Bengaluru: The BJP’s Bengaluru Central unit has filed a complaint at the Upparpete police station against the alleged demolition of a compound wall and the felling of a tree inside Freedom Park, reportedly to facilitate a protest by Leader of Opposition in Lok Sabha Rahul Gandhi.
The Congress, which has alleged electoral malpractice in the 2024 Lok Sabha elections, had initially planned to protest in Freedom Park in Bengaluru on August 5 and later deferred it to August 8 in light of the demise of former Jharkhand Chief Minister Shibu Soren.
“In preparation for the event, an ancient compound wall in the park was allegedly demolished, causing inconvenience to the public, damaging public property, and resulting in a loss to the government exchequer. Additionally, a tree within the park premises was cut down,” BJP Bengaluru Central President Saptagiri Gowda, who filed the petition, was quoted as saying by The New Indian Express.
The complaint further alleged that Congress undertook these activities without obtaining any permission from the concerned authorities.
It also accused the Congress of misusing government power for political purposes. “They have destroyed public property for their personal interests by constructing a huge new compound wall inside Freedom Park. This is an illegal act and a misuse of power by the ruling party,” the petition stated, as per TNIE.
The BJP leaders have demanded legal action against the organisers of the protest and the government officials allegedly involved.
The Upparpete police said that they have received the petition, adding that a preliminary inquiry is underway.
