{"id":6063,"date":"2020-07-14T11:00:53","date_gmt":"2020-07-14T11:00:53","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=6063"},"modified":"2020-07-14T11:00:53","modified_gmt":"2020-07-14T11:00:53","slug":"hdfc-bank-calms-fears-says-no-loss-to-the-bank-from-vehicle-loan-unit-probe","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=6063","title":{"rendered":"HDFC Bank calms fears, says no loss to the bank from vehicle loan unit probe"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-2023558 size-full\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/hdfc-bank.jpg\" alt=\"HDFC Bank,\u00a0HDFC Bank\u00a0vehicle loan unit probe, HDFC loan book,\u00a0Ashok Khanna, latest news on HDFC bank\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-2023558 size-full\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/hdfc-bank.jpg\" alt=\"HDFC Bank,\u00a0HDFC Bank\u00a0vehicle loan unit probe, HDFC loan book,\u00a0Ashok Khanna, latest news on HDFC bank\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-2023558 size-full\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/hdfc-bank.jpg\" alt=\"HDFC Bank,\u00a0HDFC Bank\u00a0vehicle loan unit probe, HDFC loan book,\u00a0Ashok Khanna, latest news on HDFC bank\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2020\/07\/hdfc-bank.jpg 660w, https:\/\/images.financialexpress.com\/2020\/07\/hdfc-bank-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/07\/hdfc-bank-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/07\/hdfc-bank-401x267.jpg 401w, https:\/\/images.financialexpress.com\/2020\/07\/hdfc-bank-440x293.jpg 440w, https:\/\/images.financialexpress.com\/2020\/07\/hdfc-bank-80x54.jpg 80w, https:\/\/images.financialexpress.com\/2020\/07\/hdfc-bank-313x209.jpg 313w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><\/noscript><\/noscript><span class=\"article-caption\">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.<\/span><\/figure>\n<\/div>\n<p>Largest private sector lender <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/hdfc-bank-ltd-stock-price\/\" rel=\"noopener noreferrer\">HDFC Bank<\/a> 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. \u201cIt is\u2026 important to clarify here that this matter is not related in any manner whatsoever to the lending aspect of the business. Therefore there\u2019s no question of this having any bearing on \u2018loan book\u2019 or causing any loss to the bank,\u201d a bank spokesperson said.<\/p>\n<p>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.<\/p>\n<p>The spokesperson reiterated that the Bank has a robust policy and process to deal with complaints and allegations and take action as appropriate.<\/p>\n<p>\u201cThe process and the outcome of dealing with such complaints is an internal matter of the Bank where we are required to be guided by our policy on disclosure. Suffice to say that as a Bank, we\u2019ve always upheld the highest standards of governance and propriety at all times and will continue to do so,\u201d the statement added.<\/p>\n<p>The statement issued on Tuesday further added that the executive concerned \u201cAshok Khanna, who was on an extension of service retired on March 31, 2020, in the normal course of his employment\u201d.<\/p>\n<p>The spokesperson also confirmed that chief information officer has also decided to move on to pursue higher studies at a foreign university and is still serving the notice period.<\/p>\n<p>\u201cSuccessful, mature organisations have it in them to take executive exits in their stride. We have a strong leadership pipeline that has stood us well so far and will do so as we stay on a strong and consistent path of growth into the future,\u201d the statement added.<\/p>\n<p>The HDFC Bank scrip was trading 2.26 per cent down at Rs 1,056.00 a piece on the BSE at 1241 hrs, as against a 1.65 per cent correction on the benchmark.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" alt=\"\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/hdfc-bank-calms-fears-says-no-loss-to-the-bank-from-vehicle-loan-unit-probe\/2023536\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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. Largest private sector lender HDFC Bank on Tuesday said the probe on vehicle finance lending practices does not have any bearing on loan book, and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6064,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-6063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/07\/hdfc-bank.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/6063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6063"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/6063\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/6064"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}