HDFC Bank Board Imposes Penalties on Top Executives for ‘Business Overreach’ in MSRDC Deposit Deal
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July 28, 2026
HDFC Bank's board has penalized its MD and CFO with nominal fines and warning letters for 'business overreach' in MSRDC deposit arrangements. An internal review found no personal gain or mala fide intent, with the bank poised to inform the Reserve Bank…