HDFC Bank probe over alleged ₹45cr interest payments hits shares
HDFC Bank's stock slid 2.63% on Tuesday (its sharpest drop in the BSE Private Bank Index) after reports alleged that the bank disguised ₹45 crore in extra interest payments to Maharashtra's road agency as marketing expenses in FY24 and FY25.
An internal probe was ordered into whether these funds were routed through marketing as contributions to a road safety awareness campaign through four local vendors, instead of being paid directly as interest.
Atanu Chakraborty resigns amid regulatory scrutiny
Following the probe, Part-time Chairman Atanu Chakraborty stepped down on March 17, 2026, citing ethical concerns.
Interim Chairman Keki Mistry has tried to reassure everyone about the bank's governance standards, while HDFC Bank insists it did nothing wrong.
Still, with a September 2024 Reserve Bank of India penalty and its status as a key Indian bank, experts say HDFC could face even more scrutiny from regulators going forward.