HDFC Bank fines CEO, CFO Rs 1 Lakh each after MSRDC deposit review
The bank’s board closed its internal probe into the MSRDC deposit arrangement, labeling the conduct as business overreach. It sent warning letters and imposed a Rs 1 lakh penalty on the MD & CEO, CFO and the retail‑assets head, and flagged the matter to the RBI. The move underscores heightened governance scrutiny in India’s private‑bank sector.