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RBI imposes 1.73 crore fine on HSBC for wrong credit card info

Admin - 2 years ago
Business
The RBI on Monday imposed a monetary penalty of ₹1.73 crore on the Hongkong and Shanghai Banking Corporation (HSBC) for furnishing incorrect credit information about expired credit cards with nil dues, to all four Credit Information Companies. A notice was issued to the bank advising it to show cause as to why the penalty should not be imposed.
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