All posts tagged: HDFC

HDFC Bank appoints former Chief Election Commissioner Rajiv Kumar to top position

HDFC Bank appoints former Chief Election Commissioner Rajiv Kumar to top position

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HDFC Bank’s board has moved to fill its top board position by appointing former Chief Election Commissioner Rajiv Kumar as Part-time (Non-Executive) Chairman, a step the lender says will provide stability as it readies for its next growth phase and seeks continuity at the executive level. Rajiv Kumar, 66, retired as finance secretary in 2020, later served as India’s 25th Chief Election Commissioner, overseeing 2024 Lok Sabha polls. (Reuters) “We wish to inform you that the Board of Directors of the Bank at its meeting held today i.e. on June 29, 2026… approved the appointment of Mr. Rajiv Kumar as an Additional Director (Independent Director) of the Bank for a period of 4 (four) years, with effect from June 30, 2026,” HDFC Bank said in an exchange filing on the NSE. The appointment as Independent Director is “subject to the approval of Shareholders of the Bank.” The board also approved, subject to the approval of the Reserve Bank of India (RBI), the appointment, including remuneration of Rajiv Kumar as a Part-time Chairman of the Bank …

Corporate ethics, Infiltration and Bauxite mining

Corporate ethics, Infiltration and Bauxite mining

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Preliminary Examination: Current events of national and international importance. Main Examination: General Studies IV: Corporate Governance. What’s the ongoing story: When Atanu Chakraborty abruptly resigned on March 18 as chairman of HDFC Bank, the country’s largest private bank, citing “certain happenings and practices within the bank” that were not in “congruence” with his personal values and ethics, it didn’t ring many alarm bells across the banking establishment. Key Points to Ponder: • Who is Atanu Chakraborty? • What is corporate ethics? • What are the five codes of ethics? • There are generally certain business or Corporate ethics principles-What are they? • Why is corporate ethics Important? • Corporate governance and corporate ethics-Connect the dot • Is corporate governance the same as corporate ethics? • What is the role of corporate governance in maintaining financial-system stability? • Know the significance of internal control and vigilance systems in banking institutions. • What are the challenges associated with ensuring ethical governance in banking institutions? Key Takeaways: Story continues below this ad • The bank’s newly appointed interim chairman, Keki Mistry, was quick …

Bombay High Court quashes FIR against HDFC Bank head in bribery case

Bombay High Court quashes FIR against HDFC Bank head in bribery case

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Sashidhar Jagdishan, MD and CEO of HDFC Bank. File The Bombay High Court on Tuesday (May 5, 2026) set aside a criminal complaint that accused Sashidhar Jagdishan, the managing director of HDFC Bank, of accepting a bribe of ₹2.05 crore from a trustee of the Lilavati Hospital trust. A Division Bench of Justice Makarand Karnik and Justice Nitin Borkar delivered the judgment. The court quashed the First Information Report registered by the Lilavati Kirtilal Mehta Medical Trust. The trust runs the Lilavati Hospital in Mumbai. Published – May 06, 2026 05:37 am IST Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

Investors scramble to make sense of HDFC chairman Atanu Chakraborty’s sudden exit

Investors scramble to make sense of HDFC chairman Atanu Chakraborty’s sudden exit

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Mumbai: Investors were left scratching their heads on Thursday after the abrupt resignation of HDFC Bank chairman Atanu Chakraborty the previous night, while shares of India’s largest private sector lender plunged 5%. Atanu Chakraborty, former part-time chairman of HDFC Bank. Despite the strong words from the exiting chairman, analysts do not expect any material irregularities at the bank, while attention turns to the reappointment of chief executive Sashidhar Jagdishan. An investor at the bank’s conference call on Thursday morning summed up the exasperation: “So far, whatever I have heard on this call doesn’t make me any wiser than I was an hour ago.” Late on Wednesday, HDFC Bank released Chakraborty’s resignation letter, in which he wrote of “happenings and practices within the bank” that were “not in congruence” with his personal values and ethics. ALSO READ | Who is Atanu Chakraborty? Retired IAS officer’s resignation as HDFC chief sends shockwaves through Dalal Street At the morning call, HDFC Bank executives and board members assured investors that there were no material issues with the bank, insisting …

HDFC Bank chairman Atanu Chakraborty drops surprise resignation citing ethical concerns| India News

HDFC Bank chairman Atanu Chakraborty drops surprise resignation citing ethical concerns| India News

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HDFC Bank on Wednesday said its chairman Atanu Chakraborty had resigned with immediate effect, with his March 17 letter to the board citing “certain happenings and practices within the bank” that were “not in congruence” with his personal values and ethics. Atanu Chakraborty had joined the board of HDFC Bank in May 2021. (Mint) In a regulatory filing late Wednesday night, India’s largest private sector lender said the Reserve Bank of India has approved the appointment of board member and HDFC group veteran Keki Mistry as interim part-time chairman for three months starting March 19. The bank said Chakraborty submitted his resignation letter to the board on March 17. “We confirm that there are no reasons other than those mentioned in the said letter, for the resignation of Chakraborty,” the bank said. Ethical concerns cited in resignation In his letter addressed to the chairman of the bank’s governance, nomination and remuneration committee, Chakraborty said he decided to step down after observing developments that conflicted with his personal values. “Certain happenings and practices within the bank, …

5 Months Into Marriage, HDFC Bank Staffer Found Murdered On Way To Gurugram; Husband Main Suspect | India News

5 Months Into Marriage, HDFC Bank Staffer Found Murdered On Way To Gurugram; Husband Main Suspect | India News

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Last Updated:February 16, 2026, 15:43 IST Police are currently probing the case, and her husband is being treated as the prime suspect at this stage, though officials say all angles are being examined The couple had an arranged marriage in September last year and were both working in Gurugram. (News18 Hindi) A young bank employee from Haryana was found murdered late Sunday night after her throat was allegedly slit while she was travelling with her husband, prompting a police investigation into the circumstances surrounding her death. The victim, identified as Mahak, was a resident of Hansi and worked at HDFC Bank in Gurugram. According to initial reports, she was travelling to Gurugram by car with her husband, Anshul, on Sunday evening when the incident occurred between Hansi and Badli. Police said the husband himself informed authorities about the killing around 11 pm on February 15. Mahak, who was reportedly pregnant, is suspected to have been attacked on the neck with a pair of scissors. Her body was later taken to Bahadurgarh Civil Hospital for post-mortem …

Why HDFC ERGO must now pay Rs 23.75 lakh despite no claim status

Why HDFC ERGO must now pay Rs 23.75 lakh despite no claim status

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5 min readNew DelhiFeb 13, 2026 09:00 AM IST The National Consumer Disputes Redressal Commission (NCDRC) has dismissed an appeal filed by HDFC ERGO General Insurance Company Limited and upheld an order directing the insurer to pay Rs 23.75 lakh with interest to a consumer, a vehicle owner whose newly purchased truck was extensively damaged in an accident just a day after delivery. A Bench comprising AVM J Rajendra (Retd.), Presiding Member, and Justice Anoop Kumar Mendiratta, Member was hearing an appeal filed by the company and upheld the verdict of the Telangana State Consumer Disputes Redressal Commission. “The claim, as such, is liable to be settled by the Insurance Company treating it to be the case of total loss. The independent estimates submitted by the complainant could not have been brushed aside by the Insurance Company,” the NCDRC order said on February 10. The damage to the vehicle is of all the major parts and is a clear case of total loss of vehicle, said the national consumer commission. (Image enhanced using AI) NCDRC: …

RBI imposes penalties on HDFC Bank, Punjab & Sind Bank

RBI imposes penalties on HDFC Bank, Punjab & Sind Bank

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The Reserve Bank has imposed penalties on HDFC Bank and Punjab & Sind Bank for deficiencies in regulatory compliance. File | Photo Credit: Reuters The Reserve Bank on Wednesday (March 26, 2025) said it has imposed penalties on HDFC Bank and Punjab & Sind Bank for deficiencies in regulatory compliance. A penalty of ₹75 lakh on HDFC Bank has been imposed for non-compliance with certain directions issued by RBI on ‘Know Your Customer’ (KYC), the central bank said in a statement. In another statement, the RBI said a penalty of ₹68.20 lakh has been impose on Punjab & Sind Bank for non-compliance with certain directions on ‘Creation of a Central Repository of Large Common Exposures – Across Banks’ and ‘Financial Inclusion – Access to Banking Services – Basic Savings Bank Deposit Account (BSBDA)’. The Reserve Bank of India has also imposed a penalty of ₹10 lakh on KLM Axiva Finvest for non-compliance with requirements relating to declaration of dividends. In all cases, the central bank said the penalties are based on deficiencies in regulatory compliance …

HDFC Bank market cap crosses Rs 14 lakh-crore mark for first time | Business News

HDFC Bank market cap crosses Rs 14 lakh-crore mark for first time | Business News

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HDFC Bank market cap crossed the Rs 14 lakh-crore mark Thursday as its stock gained 1.4 per cent in early morning trade. Early in the day, the HDFC Bank share price touched a fresh record high of Rs 1,836.05 following a 1.4 per cent gain. A total of 93,000 shares changed hands generating a total turnover of Rs 16.92 crore. The company’s market cap briefly crossed Rs 14 lakh crore, according to the BSE website. The shares of the company have a PE of 20.98x. Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link