HDFC Bank denies wrongdoing in ₹45 crore fund diversion case

HDFC Bank has denied allegations of wrongdoing after reports said it had diverted ₹45 crore to the Maharashtra government's MSRDC. "Full process is always followed before final determination post any internal review. We strongly reject any assumptions of wrongdoing or culpability based on selective material," the bank stated. The amount was disguised as marketing expenses to secure large deposits.