HDFC Bank has opened an internal probe into two executives suspected of leaking unpublished price‑sensitive information to external parties, a move that comes as the bank readies for a leadership transition on Oct 27.
The leak concerns data on financial results, dividends, capital raises and key managerial appointments—information that the bank’s code of conduct strictly forbids.
Bloomberg reports that the executives oversee key businesses and that senior leaders flagged possible breaches, prompting the bank to gather all relevant facts while maintaining confidentiality during the review.
Similar violations have prompted SEBI to issue warnings to Reliance Industries in August 2024 and to penalize a former Nucleus Software employee, underscoring the regulator’s vigilance over insider trading.
A junior analyst at HDFC, who prefers anonymity, said the atmosphere is tense as investors brace for the new MD & CEO, Anup Bagchi, and fear that leaks could erode market confidence in the bank’s governance.