Mumbai: HDFC Bank, India’s biggest private bank, has received a warning from the Securities and Exchange Board of India (SEBI). This warning is about some rules the bank didn’t follow in the capital markets area. HDFC Bank mentioned that SEBI pointed out issues related to merchant banking rules, capital and disclosure requirements, and insider trading regulations. The warning letter, which the bank received on December 11, was dated December 9. After hearing this news, the bank’s stock dropped by 0.3%. The bank, which is very close to its all-time highest stock price, said it did not share too many details about the problems but promised to fix the issues mentioned in the letter.
HDFC Bank Warned by SEBI Over Compliance Issues – Key Takeaways
HDFC Bank receives a warning from SEBI over compliance issues related to capital markets. The bank commits to addressing the concerns raised in the letter.
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