0 months ago
HDFC Bank Board Pledges 'Zero Tolerance' for Unethical Practices
HDFC Bank is one of the biggest banks in India.
It has a team of leaders called the board who make important decisions.
The chairman of the board is Mr. Rajiv Kumar.
He spoke at a meeting for the bank's owners, who are called shareholders.
He told them the bank will not accept any wrong or unfair behavior.
If anyone at the bank does something unethical, the bank will act quickly and firmly.
He said the bank's internal control systems are strong and that there are no big worries about how the bank is run.
The board promised to be honest, open, responsible, and careful with people's money.
He also shared that the bank is growing and making more profit.
He believes the bank will keep improving over the next few years.
HDFC Bank Part-time Chairman Rajiv Kumar said the board will have 'zero tolerance towards any unethical practice', dealt with 'speed and firmness on a case-to-case basis'.
Kumar said there are 'no governance related concerns at the systemic level' while addressing the bank's 32nd annual general meeting.
He took charge as chairman in July this year after Atanu Chakraborty resigned with immediate effect citing governance issues.
HDFC Bank's profit after tax rose 10.9% to Rs 74,671.3 crore in FY26, with advances up 12.1% and deposits up 14.4%.
Kumar said HDFC Bank is 'at the cusp of a change' and expects its net interest margin and CASA ratio to improve over the next two-to-three years.
- Who
- HDFC Bank Part-time Chairman Rajiv Kumar, speaking to shareholders at the bank's 32nd annual general meeting
- What
- Announced the board's 'zero tolerance' for unethical practices, said there are no systemic governance concerns, and outlined the bank's FY26 financial performance and growth outlook
- Where
- At HDFC Bank's annual general meeting
- When
- Wednesday, at the bank's 32nd annual general meeting; Kumar took charge as chairman in July this year
- Why
- To assure shareholders of the board's commitment to integrity, transparency, accountability, and prudent stewardship, and to share the bank's financial performance
Governance Critics and Market Concerns
HDFC Bank Management
Corporate governance at HDFC Bank
Governance Critics and Market Concerns
Former chairman Atanu Chakraborty resigned with immediate effect citing governance issues, raising questions about the bank's governance standards.
HDFC Bank Management
Chairman Rajiv Kumar said there are no governance-related concerns at the systemic level and that the board has zero tolerance for unethical practices, with control functions fully empowered.
Profitability and interest rate headwinds
Governance Critics and Market Concerns
Cumulative repo rate cuts of 125 basis points between February and December 2025 hurt net interest margins, as assets repriced faster than deposits.
HDFC Bank Management
Kumar is confident HDFC Bank will grow advances faster than the banking system and improve its NIM and CASA ratio over the next two-to-three years.
Key facts
- Bank
- HDFC Bank
- Chairman
- Rajiv Kumar (part-time)
- Occasion
- 32nd Annual General Meeting
- Policy Stance
- Zero tolerance towards any unethical practice
- Systemic Governance
- No governance-related concerns at the systemic level
- Previous Chairman
- Atanu Chakraborty, resigned with immediate effect citing governance issues
- FY26 Profit After Tax
- Rs 74,671.3 crore, up 10.9%
- FY26 Advances & Deposits
- Advances Rs 29.37 lakh crore; deposits Rs 31.05 lakh crore
Quotes
Rajiv Kumar
Part‐time Chairman of HDFC Bank
“The board is committed to ensure that HDFC Bank operates from the pedestal of highest levels of corporate governance and remain anchored in integrity, transparency, accountability, and prudent stewardship.”
financialexpress.com
“HDFC Bank Part-time Chairman Rajiv Kumar on Wednesday said the bank’s board will ensure that control functions remain fully empowered to have “zero tolerance towards any unethical practice””
indianexpress.com
Sources
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