HDFC Bank imposed a fine of ₹1 lakh each on MD CEO, CFO and group head of retail assets for “business overreach” after running an internal review into the bank’s deposit arrangements with MSRDC. 

According to the bank, the committee did not find anything conclusive that would amount to mala fide action, personal enrichment or improper motive. However, it concluded that the conduct of the employees involved amounted to "business overreach".