HDFC Bank Leaders Penalized Over MSRDC Deposit Mobilization: A Deep Dive into Corporate Governance Concerns
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July 28, 2026
HDFC Bank's board has penalized its MD, CFO, and a Group Head with Rs 1 lakh each over alleged Rs 45 crore 'marketing expenses' used to mobilize deposits from MSRDC between 2017-2021, emphasizing top-level accountability and robust corporate governance.