A new structure of financial regulation

One of the most egregious recent cases of misconduct is the behaviour of credit-rating agencies.

Last week, HDFC Bank had to put out a public notice that it will refund the GPS device commission it had earned from auto loan customers who bought the device as part of auto loan funding during FY14 to FY20. The notice said: “The refund will be credited to the customer’s repayment bank account as registered with the bank.” If the bank account is closed, customers are requested to contact the bank from their registered email ID or call on a number within the next 30 days. If you have not been following the HDFC Bank auto loan mis-selling case,