MUMBAI, India, March 20 -- Reserve Bank of India issued the following press release:
The Reserve Bank of India (RBI) has, by an order dated March 18, 2026, imposed a monetary penalty of ₹31.80 lakh (Rupees Thirty One Lakh Eighty Thousand only) on The Hongkong and Shanghai Banking Corporation Limited (the bank) for non-compliance with certain directions issued by RBI on 'Inoperative Accounts / Unclaimed Deposits in Banks - Revised Instructions'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47 A(1)(c) read with section 46(4)(i) of the Banking Regulation Act, 1949.
The statutory Inspection for Supervisory Evaluation of the bank was conducted by RBI with reference to its financial ...