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Penalty imposed on three banks

MUMBAI: The Reserve Bank of India on Monday imposed monetary penalties on HDFC Bank (Rs. 25 lakh), ING Vysya Bank (Rs. 10 lakh) and IDBI Ltd. (Rs. 5 lakh) for violating regulations on Know Your Customer (KYC) norms, breach of prudent banking practices and for not adhering to its directives relating to loans against shares/IPO.

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