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HDFC Bank Sacks 3 Top Executives, Including Group Head: The Reason Revealed
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HDFC Bank Sacks Group Head, 2 Top Executives Over Credit Suisse Bond Mis-selling Scandal
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News18
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21-03-2026, 19:34
HDFC Bank Sacks Group Head, 2 Top Executives Over Credit Suisse Bond Mis-selling Scandal
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HDFC Bank terminated Group Head Sampath Kumar and two senior executives, Harsh Gupta and Payal Mandhyan.
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Executives are accused of misrepresenting risky Credit Suisse perpetual bonds as safe investments to customers, particularly NRIs.
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Customers allege they were misled into investing in AT-1 bonds, which were later written off during the Credit Suisse crisis.
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Harsh Gupta and Payal Mandhyan were suspended in January and permanently removed after investigation.
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HDFC Bank confirmed internal investigation found deficiencies in UAE branch operations and took strict action.
Read Full Article on News18 in Hindi
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