HDFC Bank Imposes Penalties on CEO and CFO After MSRDC Review, ETLegalWorld
HDFC Bank’s board has concluded its internal review into the bank’s arrangement with the Maharashtra State Road Development Corporation (MSRDC) for garnering deposits in 2017 and 2021, holding that the actions of employees involved amounted to “business overreach” rather than any mala fide conduct, personal enrichment or improper motive. “Based on the findings and recommendation…

