An internal investigation at HDFC Bank found that two senior executives disclosed confidential business plans and potentially market-sensitive information to people outside the bank. The probe began after other senior leaders raised concerns about possible information leaks.
The executives reportedly oversee key business areas and functions. HDFC Bank said an internal review is underway to gather all relevant facts and that “appropriate action will be taken based on the findings.” The bank is also examining whether anyone misused the information.
The investigation comes as HDFC Bank prepares for a leadership transition. Anup Bagchi is set to become the new CEO on October 27. The disclosures have raised questions about the bank’s internal controls and corporate governance standards.