An internal investigation by HDFC Bank revealed evidence that two senior executives disclosed confidential business strategies and market-sensitive information to outsiders.
The inquiry began after leadership raised concerns regarding potential information leaks, and the findings were reported to senior management and board members earlier this year.
The developments add to challenges for incoming chief executive Anup Bagchi, who is set to assume leadership on October 27 amid executive departures and a 28% decline in the bank's share price this year.