HDFC Bank Fines CEO and CFO ₹1 Lakh in MSRDC Case

HDFC Bank has imposed a penalty of ₹1 lakh each on its CEO and CFO following an internal investigation into 'business overreach' regarding MSRDC deposit arrangements.

The bank's board issued formal warning letters to the top executives, clarifying that while the conduct was not mala fide, it violated internal compliance standards for deposit-rate management.

This regulatory action highlights the bank's commitment to tightening governance protocols after the internal audit identified irregularities in handling specific government-linked deposits.