Politics · India
HDFC Bank Imposes ₹1 Lakh Penalty on Top Executives for Business Overreach
The HDFC Bank board penalized top executives Sashidhar Jagdishan and Rajeev Trehan over deposit arrangements with MSRDC. The internal review found business overreach but no personal gain or mala fide intent. The RBI is also involved in the matter, as it paves the way for a potential audit. The bank's board imposed nominal penalties and warning letters following the review's recommendations.
How outlets across the spectrum covered it
Left 1 · Centre 4 · Right 2 n = 7
- Left (1): The Hindu
- Centre (4): Business Standard, Deccan Chronicle, The Indian Express, The Times of India
- Right (2): Firstpost, Republic World