New Delhi, July 27 -- HDFC Bank in a filing with the exchanges today stated that its internal review showed that employees were involved in "business overreach" in regard to Maharashtra State Road Development Corporation (MSRDC) deposits held with the lender between 2017 to 2021.

The statement dated 27 July 2026 added that the internal review process was concluded today.

"Based on the findings and recommendation of the Special Disciplinary Committee of Independent Directors, the Board at its meeting held on 23 July 23, concluded that the conduct of the employees involved constituted business overreach rather than any mala fide action, personal enrichment, or improper motive," it said.

It added that the board has issued warning letters ...