The country’s largest private bank HDFC Bank has investigated the irregularities in the loans disbursed by its auto loan department. Blumberg said in his report quoting sources aware of the case that the former head of the unit in this case The role of the same is also being investigated. HDFC, the country’s largest bank in terms of market capitalization, has not extended the tenure of Ashok Khanna, the former head of the auto loan unit due to the case. This decision was taken regarding Khanna after the investigation report came in, before that the proposal to extend his tenure was under consideration.
According to sources, on March 31, 2020, HDFC Bank’s vehicle financing unit owes Rs 1.2 lakh crore as a loan to customers. The management was considering whether to extend the tenure of six months to Khanna so that there would be stability in the leadership in the bank. Managing director Aditya Puri is also set to retire soon. But after investigation, it was decided not to give extension to Khanna and he was given retirement in March itself.
The investigation report has not been made public, but it is being said that the apprehensions raised in the internal audit report of the bank have been agreed upon in the report. Let us know that HDFC Bank is undergoing a leadership change these days. Aditya Puri, who led the bank for 26 years, is scheduled to retire in October. The Reserve Bank of India has now set an age limit of 70 years for the CEO of any bank. Due to this, Aditya Puri will now have to step down.
