Bank conducts thorough investigation for lending practices at vehicle unit.

HDFC bank

HDFC bank had decided to conduct a probe leading upto allegations of improper lending practices. There had been conflicts of interests in its vehicle-financing operations that would involve the units former head. HDFC is known as India’s most valuable lender and had decided against any sort of allegations against their former employee and till date the information has been kept confidential.

The vehicle financing loan has been known to have a debt of 2.1 trillion rupees as of March 31. HDFC’s management has been rooting for their employee to be still under authority until the October of 2020, that is until their longstanding Managing Director Aditya Puri retires.

The results of this probe investigation have not yet been made public and there have been several internal audits for the same matter. There have been arguments regarding the global positioning systems for vehicles financed by the bank.

Related Posts