Sebi issues administrative warning letter to HDFC Bank over non-compliance

India's market regulator, the Securities and Exchange Board of India (Sebi), has issued an administrative warning letter to HDFC Bank, the country's largest private-sector bank, for non-compliance with listing regulations. The bank was found to have delayed the notification of the resignation of Arvind Kapil, a senior management member, by three days.

 

Additionally, the bank failed to provide an explanation for the delay in the disclosure on April 30, 2024.

 

In a letter to the bank, Sebi said the violations by the bank have been viewed seriously, and the bank has been warned to be careful in future. It has also been advised to exercise caution to avoid the recurrence of such instances, failing which appropriate enforcement action could be initiated, Sebi said in its letter.

 

 

The bank has said it will take necessary steps to address the regulator's concerns.