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HDFC Bank says internal review underway into alleged business information leak

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HDFC Bank says internal review underway into alleged business information leak

The internal review follows concerns over the alleged sharing of confidential business strategies and possible market-sensitive information with outsiders. HDFC Bank said it is evaluating all relevant facts and will take appropriate action after the review.

Largest private sector lender HDFC Bank on Tuesday said it is conducting an internal review into the alleged disclosure of confidential business information, following a Bloomberg report that two senior executives were found to have shared confidential business strategies and possible market-sensitive information with outsiders. The bank said the review is aimed at gathering and evaluating all relevant facts and that it would take appropriate action based on its findings. “The Bank is committed to upholding the highest standards of ethics and governance as outlined in our Code of Conduct. We take any report of potential violations seriously,” an HDFC Bank spokesperson said in a statement. Advt

“In line with our policies, an internal review into this matter is currently underway to gather and evaluate all relevant facts. To protect the integrity of the process and the privacy of all parties involved, we do not comment on active internal reviews. Appropriate action will be taken based on the findings, once the review is complete,” the spokesperson added. An internal investigation had found evidence that two senior HDFC Bank executives disclosed confidential business strategies and possible market-sensitive information to outsiders. The bank’s review is still underway and it is examining whether the information was misused, according to the report.

The development comes ahead of Anup Bagchi taking charge as HDFC Bank’s managing director and chief executive officer on October 27.


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