HDFC Bank faces US lawsuit linked to ₹45 crore fund diversion; stock drops
An investor has filed a lawsuit against HDFC Bank in the United States, claiming the lender breached securities regulations and resulted in financial losses for shareholders. The legal action focuses on accusations that the bank moved ₹45 crore to the Maharashtra State Road Development Corporation (MSRDC) following assurances of an above-average interest rate on those deposits. Following the news, HDFC Bank's share price declined by more than 2% during Thursday's trading session.
by shortkt.com✓