8 months ago
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HDFC Bank has been barred from onboarding caller customers astatine its Dubai International Financial Centre subdivision by the section regulator.
HDFC Bank, India's largest backstage assemblage lender, said it has initiated the indispensable steps to comply with the announcement of the Dubai Financial Services Authority and added that it does not spot immoderate worldly interaction from it.
Exact details of the alleged violations starring to the enactment against HDFC Bank were not instantly clear.
In an speech filing precocious connected Friday evening, HDFC Bank said it has received the "decision notice" from DFSA, which points to alleged violations pertaining to fiscal services offered by the DIFC subdivision to customers not onboarded astatine the outlet, and besides successful the onboarding of customers astatine the Dubai International Financial Centre (DIFC) Branch.
HDFC Bank disclosed that it has besides been barred from soliciting customers, but added that it tin proceed to work existing customers.
The DIFC subdivision has 1,489 customers, including associated accounts, HDFC Bank said.
The regulatory determination volition beryllium successful unit till the slope gets a connection from the watchdog, amending oregon revoking its determination successful writing, HDFC Bank said.
"The slope has already initiated indispensable steps to comply with the directives successful the announcement and is committed to moving with the DFSA to promptly remediate and code DFSA concerns astatine the earliest," the HDFC Bank filing said.
The HDFC Bank scrip had closed 0.47% down ₹945.15 apiece connected the BSE connected Friday (September 26, 2025) against a 0.90% correction connected the benchmark.
