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HDFC Bank ends lower amid reports of alleged irregular payments to MSRDC
HDFC Bank declined 2.63% to settle at Rs 758.50 following media reports alleged that the bank had made unauthorized payments to a state government agency, MSRDC to attract deposits.
HDFC Bank 'strongly' rejects Rs 45 cr payment route wrongdoing
HDFC Bank has strongly denied media reports alleging wrongdoing. The bank stated its internal oversight, audit, and control systems are robust. This clarification follows a report about an internal investigation into Rs 45 crore payments. The payments were reportedly disguised as marketing expenses to a public sector undertaking. HDFC Bank maintains its commitment to transparency and strong governance.
Fino Payments Bank CEO Arrested: FM Sitharaman to 'check' GST evasion case
Finance Minister Nirmala Sitharaman will investigate the arrest of Fino Payment Bank CEO Rishi Gupta. Gupta was apprehended by GST authorities in Hyderabad. The bank stated the probe concerns a business partner's transactions, not the bank's compliance. Social media questioned the extent of GST powers. The Finance Minister acknowledged the issue and promised to look into it.