The Hindu·2 min read·medium
HDFC Bank fines CEO,CFO ₹1 lakh each for ‘business overreach’
T
The Hindu Bureau
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HDFC Bank has fined its MD CEO, CFO, and group head of retail assets ₹1 lakh each for “business overreach” following an internal review of deposit arrangements with MSRDC. The bank's board concluded the conduct was not mala fide but a potential divergence from RBI Directions, issuing warnings and penalties. The matter will be communicated to the Reserve Bank of India.
HDFC Bank imposed a fine of ₹1 lakh each on MD CEO, CFO and group head of retail assets for “business overreach” after running an internal review into the bank’s deposit arrangements with MSRDC.
businesseconomypolitics
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