RBI asks HDFC Bank to explain 1L fines on executives

Business Jul 31, 2026

The RBI wants HDFC Bank to explain why it fined its CEO, CFO, and another senior executive ₹1 lakh each.

The fines were for allegedly making wrongful incentive payments to a state corporation back in 2017 and 2021 to attract deposits.

Now, RBI is asking if this kind of penalty is normal at the bank, and how they decided on the amount.

HDFC board backs CEO amid review

Because this involves big names (including the CEO), RBI is speeding up its annual review of HDFC Bank.

While the board says it was just business overreach, not actual misconduct, it's still backing its CEO for reappointment despite all the extra scrutiny.