SEBI imposes penalty on HDFC Bank

SEBI imposes penalty on HDFC Bank

HDFC Bank's share price shed a percent in the early trade on January 22 after SEBI levied a monetary penalty on the bank.

The Securities & Exchange Board of India (SEBI), vide its Final Order dated January 21, 2021, has levied a monetary penalty of Rs 1 crore payable by the bank in the matter of M/s. BRH Wealth Kreators Limited, for non‐compliance with the interim order issued by SEBI.

Further, the bank has been directed vide the order to transfer an amount of Rs 158.68 crore along with interest from October 14, 2019, to date.