SEBI Warns HDFC Bank Over Regulatory Non-Compliance
SEBI’s Warning to HDFC Bank
On Wednesday, the Securities and Exchange Board of India (SEBI), the capital markets regulator, issued a warning letter to HDFC Bank. The warning was due to alleged non-compliance with certain regulatory guidelines applicable to custodians.
SEBI’s Periodic Inspection
- SEBI conducted a routine inspection of HDFC Bank’s custody activities
- The inspection revealed non-compliance with certain regulatory guidelines
HDFC Bank’s Response to SEBI’s Warning
In a regulatory filing, HDFC Bank stated that they will take necessary steps to rectify the lapses mentioned in the warning letter.
Previous SEBI Warning to HDFC Bank
This is not the first time HDFC Bank has received a warning letter from SEBI. In December 2024, SEBI issued an administrative warning letter to HDFC Bank for regulatory non-compliance related to merchant banking activity.
