HDFC Bank takes action against 15 officials in case of mis-selling of high-risk AT1 bonds

HDFC Bank takes action against 15 officials in case of mis-selling of high-risk AT1 bonds


The bank had earlier on March 20 taken action against three officials—Group Head of Branch Banking Sampat Kumar, Executive Vice President of Middle East, Africa and NRI Onshore Business Harsh Gupta and Senior Vice President Payal Mandhyayan—for their alleged involvement in mis-selling of bonds. Sources said that now it has come to light that action has also been taken against 12 more officers. That means steps have been taken against a total of 15 officers.

Increment banned, employee stock options also cancelled; HDFC Bank took strong action against 12 officials



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