MSRDC case: HDFC Bank’s board imposes Rs 1 lakh penalty each on its MD, CFO and Group head

HDFC Bank's board has imposed a monetary penalty of Rs 1 lakh each on its three senior-most executives - Managing Director and Chief Executive Officer Sashidhar Jagdishan, Chief Financial Officer Srinivasan Vaidyanathan and Group Head (Retail Assets) Arvind Vohra. The penalty is in connection with a divergence from Reserve Bank of India (RBI) directions in the Maharashtra State Road Development Corporation (MSRDC) matter, according to a PTI report.

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