The Reserve Bank of India (RBI) has sought details of an internal investigation being carried out by HDFC Bank with regard to alleged malpractices in its car loan operations.
The bank has been asked to furnish details on the steps being taken by them to rectify any discrepancy that may have surfaced during the investigation, Bloomberg reported.
The information is not out yet and the HDFC Bank spokesman has refused to comment on the matter, stating there is nothing new to add to what the lender’s Managing Director Aditya Puri has already said.
Puri had said on July 18 that an internal inquiry was initiated after a whistleblower complaint, which led the bank to uncover 'personal misconduct' by some of its employees. "Based on internal inquiry findings, appropriate action was taken against a set of employees in the auto loan business segment for their act of personal misconduct,” he added.
As of June 30, the vehicle financing unit of the HDFC Bank had outstanding loans of around Rs 1.2 lakh crore.
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