HDFC Bank diverted ₹45 crore to Maharashtra government's MSRDC after promising 6.01% interest on deposits, higher than the normal 3.5% interest, The Indian Express reported. The funds were "camouflaged" as sponsorship for MSRDC's road safety awareness campaign, the bank's CMO Ravi Santhanam told an enquiry panel. The diversion was approved in the presence of the bank's CEO Sashidhar Jagdishan.