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HDFC Bank on Thursday informed stock exchanges that market regulator SEBI has issued an administrative warning letter to the bank, alleging non-compliance with some rules.
The warning letter was in relation to observations made during the course of its periodic inspection of investment banking activities undertaken by the bank, thereby alleging 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 Bank informed stock exchanges it would take necessary steps to address the concerns or directives mentioned in the letter. The administrative warning letter by the Securities and Exchange Board of India dated December 9, 2024, was received by the Bank on December 11, 2024. The Bank sees "no impact" on the financial, operation, or other activities of the listed entity. The shares of HDFC were 0.2 per cent lower at Rs 1,860 at the time of filing this report. (ANI)
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