HDFC Bank has initiated an internal enquiry into the alleged leak of confidential information by two senior executives, with investigators examining whether the disclosed information was misused.
HDFC Bank reported a 5.55 per cent increase in consolidated net profit to Rs 20,700 crore for the September quarter, with incoming MD and CEO Anup Bagchi indicating a focus on strengthening the balance sheet and addressing retail vertical concerns post-merger.
HDFC Bank has submitted two names to the Reserve Bank of India for the managing director and chief executive position, following incumbent Sashidhar Jagdishan's decision not to seek reappointment. The bank also announced board changes, increasing whole-time directors to four and appointing Jimmy Tata as an executive director. This move comes as Jagdishan's term ends in October, creating a tight timeline for succession.
HDFC Bank has launched an independent review by external law firms following the abrupt resignation of Chairman Atanu Chakraborty, who cited 'ethical concerns and practices within the bank' as the reason for his departure.
Sashidhar Jagdishan, the managing director and CEO of HDFC Bank, has announced his decision not to seek reappointment and will retire at the end of his current term on October 26, concluding a six-year tenure marked by significant regulatory and governance challenges, including RBI restrictions, a major merger, and scrutiny over alleged illegal payments.
Sashidhar Jagdishan, the managing director and chief executive of HDFC Bank, has opted out of being considered for reappointment after his current term ends on October 26, choosing to retire after nearly three decades with the lender.
'The sales pressure on the ground, a board and CEO not fully aligned, and a senior team that isn't pulling together -- that's when these things surface.'
Bank fraud is no longer just an external cyber threat -- insiders with legitimate access can exploit banking systems, trusted credentials and institutional blind spots to quietly siphon money.
Union Minister Ashwini Vaishnaw announced that the Indian government will release a draft consultation paper on Artificial Intelligence (AI) regulations within the next 30 days, focusing on safety, a human-first approach, skilling, inclusivity, and harm restriction.
IT Minister Ashwini Vaishnaw announced that the Indian government will release a consultation paper on AI regulations within a month. This framework will address critical aspects like AI safety, deepfakes, and a human-first approach, emphasising the industry's primary responsibility in ensuring safe AI deployment. The move comes amidst growing global concerns over AI risks and the need for robust safeguards.
It is because dealing with a regulatory system that is largely headed by retired IAS officers then becomes relatively easy, points out A K Bhattacharya.
The Reserve Bank of India has approved a three-month extension for Keki Mistry as the interim chairman of HDFC Bank, continuing his tenure until September 18, 2026, or until a regular chairman is appointed.
HDFC Bank, India's largest private sector lender, reported a reduction of 3,343 employees in FY26, bringing its total workforce to 2,11,178, even as its balance sheet expanded by 12 per cent. The bank's MD and CEO, Sashidhar Jagdishan, attributed the headcount reduction to redeploying talent from back-end functions to customer-facing roles due to technology-led efficiencies. The annual report also addressed the challenging resignation of part-time chairman Atanu Chakraborty, which raised questions about the bank's governance standards.
EaseMyTrip co-founder Nishant Pitti has been chargesheeted by the Enforcement Directorate in the Mahadev online betting app money laundering case. He is accused of facilitating illegal betting proceeds into the equity market via foreign portfolio investments, with his DEMAT shares worth Rs 59.60 crore provisionally attached. Pitti denies knowledge of the chargesheet and vows to cooperate, while the ED alleges his involvement in stock price manipulation and layering crime proceeds.
BRICS members have expressed 'serious concerns' over the unilateral imposition of trade and finance-related measures, including higher tariffs and non-tariff barriers, stating these actions distort trade and are inconsistent with WTO rules. The grouping also highlighted elevated risks to the global economic outlook due to geopolitical tensions, trade fragmentation, and protectionism.
On the 25th anniversary of that world-changing morning in New York, it is also for the rest of to reflect. Not only on those who were killed but also on why the event happened and what led to it and what came after it, asserts Aakar Patel.
HDFC Bank's shares experienced a dip on Wednesday after a newspaper report alleged that the bank made illegal payments to the Maharashtra State Road Development Corporation to secure large deposits, raising concerns about corporate governance.
Atanu Chakraborty has resigned as chairman of HDFC Bank, citing ethical concerns, marking an unusual departure and prompting the appointment of an interim chairman.
HDFC Bank reports a 12% credit growth for the March quarter, alongside the unexpected resignation of its chairman, Atanu Chakraborty, due to ethical concerns.
The Reserve Bank of India (RBI) has issued a statement assuring the public of HDFC Bank's stability and sound financial position following the resignation of its chairman, Atanu Chakraborty, citing ethical concerns.
Former HDFC Bank chairman Atanu Chakraborty cites misselling of AT-1 bonds and underperformance as key reasons for his resignation, dismissing personal differences as a major factor.
HDFC Bank's leadership addresses the sudden resignation of its chairman, citing ethical concerns, and attempts to reassure stakeholders about the bank's governance and future stability.
HDFC Bank is engaging external legal firms, both domestic and international, to investigate the circumstances surrounding former part-time chairman Atanu Chakraborty's resignation.
Haryana's Chief Minister Nayab Singh Saini reviewed the progress of the Haryana AI Development Programme (HAIDP), a Rs 474-crore initiative developed with the World Bank, focusing on AI skilling, startup incubation, and ethical AI governance.
'My resignation is a larger governance and governance-plus kind of an issue, which the board of directors of the bank should be introspecting.'
'During the bank's board meeting, many directors asked him if there is a governance issue but he said there is none.'
The Financial Times, citing multiple bankers and shareholders, reports that the real tensions ran far deeper than compliance concerns.
The move is to strengthen oversight, improve compliance, and boost patient confidence.
Governance uncertainty and leadership visibility gap are likely to keep the stock under pressure in the near term, said Nomura in a report.
"With the leverage available, I believe the scheme remains reasonably attractive," said P D Singh, India and South Asia Chief Executive Officer, Standard Chartered Bank, regarding the Foreign Currency Non-Resident (Bank) or FCNR (B) deposits.
HDFC Bank reported an 8.04 per cent increase in its March quarter consolidated net profit to Rs 20,350.76 crore, but highlighted potential near-term risks for small-business borrowers due to the West Asia conflict. The bank's CEO also addressed the recent resignation of its non-executive chairman and hinted at a potential top-level reorganisation.
'Being an important institution in the banking system, we are subject to regulatory supervision, both offsite and onsite.' 'When you look at the intensity at which these levels of supervision come, we, on the board and in management, believe there should not be any surprises.'
'After more than 12 years in power, he has been forced to retreat under public pressure. The education minister's resignation is the biggest political climbdown of his government so far.'
'...even though the investigation in the matter is ongoing, we have paid 100 per cent of the principal and interest to relevant departments of the Haryana government.'
Dr Lovi Raj Gupta, pro vice-chancellor, Lovely Professional University, explains how aspiring professionals can equip themselves for a competitive AI-driven job market.
In the latest Rediff series exploring non-traditional careers, Sandeep Goel, professor and dean-research at MDI, Gurgaon lists a range of high-growth finance careers beyond CA, CS, and MBA degrees.
'We strongly believe that anyone with capability and a strong work ethic should have a chance at the top job.'
The Education Ministry will focus on training teachers in the use of Artificial Intelligence tools over the next three to four months to support classroom teaching, lesson planning and student assessment, a senior official said.
Indian stock market indices Sensex and Nifty experienced a significant drop in early trade, reversing a three-day rally. The decline was triggered by a sharp increase in crude oil prices, weak global market trends, and continuous outflows of foreign funds.
The controversy involves mis-selling Credit Suisse AT-I bonds to NRIs as fixed-maturity instruments, later written off after collapse.
