HDFC Bank fined its CEO and CFO Rs 1 lakh each for business overreach in a 2017-2021 deposit arrangement, with the matter reported to the Reserve Bank of India.
The board deemed their actions as 'business overreach'
Jul 27, 2026
07:45 pm
What's the storyHDFC Bank has imposed a fine of ₹1 lakh each on its Managing Director and CEO Sashidhar Jagdishan, Chief Financial Officer Srinivasan Vaidyanathan, and Group Head-Retail Assets Arvind Vohra.
The penalty comes after an internal review of the bank's deposit arrangement with the Maharashtra State Road Development Corporation (MSRDC) in 2017 and 2021.
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