HDFC Bank says internal review underway over alleged info leak

HDFC Bank says internal review underway over alleged info leak New Delhi, Oct 21 : HDFC Bank has clarified that it is investigating a possible leak of confidential information and will decide on further action after completing its internal review, according to a report.  NDTV Profit reported that the bank's spokesperson said, “In line with our policies, an internal review into this matter is currently underway to gather and evaluate all relevant facts.” The bank further said it would not discuss the ongoing review to protect the process and privacy of those involved. “Appropriate action will be taken based on the findings, once the review is complete,” the spokesperson said. The lender also reiterated its commitment to ethical conduct and governance under its Code of Conduct, adding that it takes reports of potential violations seriously. Earlier in the day, reports claim that an internal probe at the bank found that two senior executives had disclosed confidential information.  The investigation began after some bank leaders raised concerns about possible information leaks. The bank is continuing to examine whether the information was misused, the report said. It also comes ahead of a leadership change, with Anup Bagchi scheduled to take over as Chief Executive on October 27. However, the lender has faced other leadership changes this year. In March, then Chairman Atanu Chakraborty resigned, citing differences between his personal values and certain practices at the bank. An independent legal review commissioned by HDFC Bank subsequently found that his concerns were not substantiated, according to the report. Apart from that, India’s largest private lender said last week that Deputy Managing Director Kaizad Bharucha had decided to step down and sought cessation of services effective December 31. In a regulatory filing, the bank said Bharucha submitted a formal request to cease his duties at the close of business on December 31.