Home / Business and Economy / HDFC Bank Stock Dips Amid Vigilance Probe Report

HDFC Bank Stock Dips Amid Vigilance Probe Report

27 May

Summary

HDFC Bank shares dropped over 2% on Wednesday.
An internal probe concerns Rs 45 crore interest payments.
The inquiry follows the ex-chairman's abrupt March departure.

HDFC Bank experienced a notable stock decline of 2.26% on Wednesday. This downturn followed a media report indicating the bank conducted an internal vigilance inquiry. The focus of this inquiry is allegedly on approximately Rs 45 crore worth of interest payments made to the Maharashtra State Road Development Corporation.

Significantly, these payments were reportedly processed around the same period that former chairman Atanu Chakraborty made an abrupt exit in March. As of Wednesday morning, the bank's shares were trading at Rs 761.25 on the National Stock Exchange, marking a low for the day.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.