HDFC Bank probe finds senior executives leaked secrets to outsiders
India’s largest by market value — found evidence that two senior
executives disclosed confidential business strategies and possible
market-sensitive information to outsiders, according to people familiar with
the matter. The executives oversee
certain key businesses and functions at the bank, according to the people, who
asked not to be named discussing confidential matters. HDFC identified the executives during an
internal investigation that began after some leaders grew concerned about the
possibility of information being leaked, the people said. The probe is still
underway as the bank continues to examine whether the information was misused,
the people said.
An HDFC Bank
spokesperson acknowledged an internal review, but didn’t comment on its findings
or the executives involved. “In line with our policies, an internal review into
this matter is currently underway to gather and evaluate all relevant facts,”
the spokesperson said by email. “Appropriate action will be taken based on the
findings, once the review is complete.”
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