HDFC Bank fines 3 top executives in MSRDC case
Mumbai, July 28 -- HDFC Bank's board on Monday issued warning letters and levied a Rs.1 lakh penalty on three top officials of the bank, after announcing the completion of an internal review for the Maharashtra State Road Development Corporation (MSRDC) issue.
These officials include managing director and chief executive officer Sashidhar Jagdishan, chief financial officer Srinivasan Vaidyanathan, and Arvind Vohra, group head for retail assets.
In a filing with the exchanges, the bank said it has also issued warning letters to other employees involved in the case.
The matter pertains to the bank's arrangement with MSRDC for garnering deposits in 2017 and 2021, as reported by Indian Express on 27 May. The report alleged that HDFC Bank made p...
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