Sebi issues warning letter to HDFC Bank

Mumbai: India's largest private sector lender HDFC Bank on Thursday said the Securities and Exchange Board of India (Sebi) has issued an administrative warning letter to the bank over certain compliance lapses touching upon the capital-markets domain. HDFC Bank said in an exchange filing that Sebi mentioned non-compliance with certain provisions of the merchant banking rules, capital and disclosure requirements and prohibition of insider trading regulations.

The warning letter dated December 9 was received by the bank on December 11. The stock, about a percentage point away from all-time highs, retreated 0.3% Thursday, in line with the broader market. Without disclosing more details about the irregularities, the bank said it will take necessary steps to address concerns and directives mentioned in the letter.