HDFC Bank Limited confirmed it is reviewing a possible leak of confidential business information, as a Bloomberg report about two senior executives emerged ahead of the Indian lender’s planned CEO transition.
An HDFC Bank spokesperson told NDTV Profit on Oct. 21 that the bank would decide on any action once the review is complete. The bank did not confirm Bloomberg’s reported findings or identify the executives. EconoTimes earlier reported the bank’s confirmation alongside a decline in its shares.
Bloomberg reported, citing people familiar with the matter, that investigators found evidence that two executives overseeing major bank operations gave outsiders business strategies and information that may have been sensitive to markets. Business Standard separately reported, citing its own sources, that the review had potentially identified two executives.
According to Bloomberg, concerns raised by some bank leaders prompted the inquiry. Its sources said senior managers and some directors were briefed on the findings earlier in 2026, while investigators continued examining whether the information was misused.
HDFC Bank said in an Oct. 1 filing that Anup Bagchi is scheduled to begin a three-year term as managing director and chief executive officer on Oct. 27, subject to shareholder approval. He would succeed current CEO Sashidhar Jagdishan, whose term ends Oct. 26.
