Bank fines HPE's financial services arm in India

The Reserve Bank of India has fined HP Financial Services (India) the equivalent of $12,400 for not complying with regulations – some related to know your customer (KYC) measures – and failing to have necessary IT committees. In a notice [PDF] published last Friday, the reserve bank asserted it had notified HP Financial …

[FrankAlphaXII]

Such a huge loss for HP

12k? So like 6 seconds of profit or one Z8 with all the bells and whistles. That'll sure show 'em.

[Potemkine!]

I wonder if HP Financial services will be able to recover from such a fine.