HDFC Bank Faces US Securities Probe

Three law firms in the United States are investigating HDFC Bank for possible violations of federal securities laws.

This comes after a report claimed that HDFC Bank made payments worth Rs 45 crore to a state corporation in India, disguised as marketing expenses.

The bank's stock price dropped, and the law firms are looking into whether this harmed investors.

HDFC Bank denies any wrongdoing and says the matter won't affect its finances.

The bank has also recently appointed a new chairman after its previous one resigned earlier this year.