New Delhi:Private sector lender HDFC Bank on Tuesday said the probe on vehicle-finance lending practices does not have any bearing on loan book and will not cause any loss to the bank.
“It is… important to clarify here that this matter is not related in any manner whatsoever to the lending aspect of the business. Therefore there’s no question of this having any bearing on ‘loan book’ or causing any loss to the bank,” a bank spokesperson said.
The bank on Monday initiated a probe on the lending practices following allegations against the conduct of a key executive in the auto-lending business.
The allegations pertained largely to the professional conduct which raised issues about possible conflicts of interest, sources had said.
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The spokesperson reiterated that the Bank has a robust policy and process to deal with complaints and allegations and take action as appropriate.
