HDFC Bank gets Sebi warning letter over alleged regulatory non-compliance
HDFC Bank has said the matter relates to certain observations made by Sebi during its periodic inspection of investment banking activities undertaken by the bank. It has also said it will take necessary steps to address the concerns or directives mentioned in the letter dated December 9.
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HDFC Bank said on Thursday that it has received an administrative warning letter from capital market regulator Securities and Exchange Board of India (SEBI) over alleged regulator non-compliance. The matter relates to certain observations made by Sebi during its periodic inspection of HDFC Bank's investment banking activities.
HDFC Bank said it will take necessary steps to address the concerns or directives mentioned in Sebi's letter, which alleges non-compliances with certain provisions of the SEBI (Merchant Bankers) Regulations, 1992, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and SEBI (Prohibition of Insider Trading) Regulations, 2015.
The private sector bank said that the letter, dated December 9 and received on December 11, will have no material impact on it financially or operationally.
Earlier on Thursday, HDFC Bank shares declined by Rs 4.8, or 0.3 per cent, at Rs 1,859 apiece on BSE.
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