Why HDFC Bank fined top executives? In its latest stock exchange filing, the HDFC Bank said that the decision was taken at its Board of Directors meeting held on July 23, 2026, and warning letters were also issued to the top executives. AdvertisementThe case stems from an investigation report which alleges that HDFC Bank made payments to the MSRDC to secure large deposits from the state agency. What did HDFC Bank say about the case? HDFC Bank has refuted the allegations, stating that matters were handled in accordance with established regulations/Advertisement“The HDFC Bank has robust internal oversight, audit, and control processes and systems.