HDFC Bank has handed out warning letters and a penalty of ₹1 lakh each to MD and CEO Sashidhar Jagdishan, CFO Srinivasan Vaidyanathan, and group head of retail assets Arvind Vohra. This decision came after an internal investigation into how the bank handled deposits for the Maharashtra State Road Development Corporation (MSRDC) during 2017 and 2021. The board determined that the actions taken by these officials constituted business overreach.

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