RBI to examine HDFC Bank's 'differential interest' rates: Report

The RBI may look into the quantum of "differential interest" rates that HDFC Bank offered to Maharashtra State Road Development Corporation (MSRDC). According to The Indian Express report, HDFC Bank diverted ₹45 crore to MSRDC after promising 6.01% interest on deposits, higher than the normal 3.5% interest. The amount was disguised as marketing expenses to MSRDC to secure large deposits.