HDFC Bank Executives Penalized for Alleged MSRDC Deposit Mobilization Irregularities
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July 28, 2026
HDFC Bank's board has levied Rs 1 lakh penalties on its MD, CFO, and Group Head, along with issuing warning letters to other staff, concerning alleged irregularities in mobilizing substantial deposits from MSRDC between 2017 and 2021, involving around Rs…
HDFC Bank Board Fines MD, CFO for ‘Business Overreach’ in MSRDC Deposit Arrangements
July 28, 2026
HDFC Bank's board penalized its MD and CFO with Rs 1 lakh fines and warning letters. An internal review found 'business overreach' in deposit arrangements with MSRDC, though no personal gain or mala fide intent was identified, underscoring the bank's…