HDFC Bank fines CEO, CFO Rs 1 lakh each over MSRDC deposit case

In a notable move, HDFC Bank has penalized senior executives and delivered warning letters after conducting an internal assessment of a deposit arrangement from 2017 and 2021. The bank's board determined that the actions were categorized as business overreach, lacking any improper intentions. Consequently, three senior officials received fines of one lakh rupees each, and the matter will also be reported to the Reserve Bank of India.

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