Topic
penalty
Finance Banks Collected Rs 7,100 Crore as Minimum Balance Penalty in FY26, Private Banks Account for 70%
Indian banks collected nearly Rs 7,100 crore in penalties from customers for failing to maintain minimum average balance in FY26, up from Rs 6,800 crore in FY25. Private banks accounted for 70% of the charges, with HDFC Bank alone collecting Rs 1,800 crore. Meanwhile, 10 of 12 public sector banks have discontinued such penal charges, leading to a decline in their collections.
Finance HDFC Bank Board Imposes Rs 1 Lakh Penalty Each on MD, CFO, Group Head in MSRDC Case
HDFC Bank's board imposed a Rs 1 lakh penalty each on its MD & CEO Sashidhar Jagdishan, CFO Srinivasan Vaidyanathan, and Group Head (Retail Assets) Arvind Vohra for divergence from RBI directions in the MSRDC matter. The bank also issued warning letters to other employees involved in mobilising large deposits between 2017 and 2021.
Business South East Water ordered to pay £30.5m by Ofwat after supply failures
Ofwat has ordered South East Water to pay a £30.5m redress package after three investigations found repeated supply failures affecting hundreds of thousands of households in Kent and Sussex. The package includes £15m in customer compensation and improvement measures, and will be funded by shareholders. An independent monitor will oversee the company's performance improvement plan.
Technology Coupang Fined $400M by South Korea for Massive Data Breach Affecting 37.5 Million Users
South Korea's data protection regulator fined Coupang $400M (624.68bn won) for a data breach affecting 37.5 million users, the largest such fine ever. The leak exposed names, contact, delivery details, and order histories. Coupang expressed regret and plans to challenge the decision; its CEO resigned.