New Delhi, March 26 -- The Reserve Bank on Wednesday said it has imposed penalties on HDFC Bank and Punjab & Sind Bank for deficiencies in regulatory compliance.

A penalty of Rs.75 lakh on HDFC Bank has been imposed for non-compliance with certain directions issued by RBI on 'Know Your Customer' (KYC), the central bank said in a statement.

In another statement, the RBI said a penalty of Rs.68.20 lakh has been impose on Punjab & Sind Bank for non-compliance with certain directions on 'Creation of a Central Repository of Large Common Exposures - Across Banks' and 'Financial Inclusion - Access to Banking Services - Basic Savings Bank Deposit Account (BSBDA)'.

The Reserve Bank of India has also imposed a penalty of Rs.10 lakh on KLM Axiva ...