Learning the right lessons at the bank

Given the seriousness of the matter, some questions must be asked. 3 min readJul 29, 2026 06:00 AM IST First published on: Jul 29, 2026 at 06:00 AM IST Two months after an investigation in this paper revealed that HDFC Bank had camouflaged crores as marketing spend to pay higher interest to the Maharashtra State Road Development Corporation, the bank’s board has initiated action. It has issued warning letters and imposed a penalty of Rs 1 lakh on three high-ranking officials — the managing director and chief executive officer, chief financial officer, and group head of retail assets. The action is unprecedented, and the board under a new chairman may be sending a signal down the line. But the saga raises troubling questions of corporate governance at the country’s largest private bank. On