Jayant Krishna, Senior Economist, Senior Fellow (Non-Resident), CSIS told Times Now Digital, “HDFC Bank, once regarded as an icon for corporate governance, has suffered reputational damage as its Board imposed token internal penalty on its MD & CEO, CFO and Retail Assets Head, following an internal review that found “business overreach” with respect to deposit arrangements with the Maharashtra State Road Development Corporation. While the review found no evidence of personal gain or dishonest intent, this entire episode makes a mockery of the ethical standards and regulatory compliance followed by corporate India, specially BFSI players. So much so, I have started doubting my wisdom of trusting HDFC Bank with a significant chunk of my savings and fixed deposit accounts.”
