An internal probe at HDFC Bank found that two senior executives disclosed confidential information, Bloomberg News reported citing sources. “An internal review into this matter is currently underway to gather and evaluate all relevant facts,” said HDFC Bank’s spokesperson adding that appropriate action will be taken based on the findings once the review was complete.
As per the report, the bank declined to comment on the ongoing review, citing the integrity of the process and the privacy of those involved. According to Bloomberg News, people familiar with the matter said the lender identified the executives concerned during an internal investigation initiated after some senior leaders raised concerns about the possibility of information leaks. The information reportedly related to confidential business strategies and potentially market-sensitive information.
The findings of the internal probe were reported to the senior management, including some board members, earlier this year, Bloomberg News reported, citing people familiar with the matter. Both executives have since been formally informed of the findings, although it remains unclear what disciplinary action, if any, may be taken, according to the report.