HDFC Bank sued in US over ₹45 crore fund diversion case, shares dip

HDFC Bank has been sued in the US by an investor, who alleges that the bank violated US securities laws and caused losses to investors. The lawsuit centres on allegations that the lender diverted ₹45 crore to Maharashtra government's MSRDC after promising it a higher-than-usual interest rate on deposits. Shares of HDFC Bank fell over 2% intraday on Thursday.