No clarity on HDFC Bank chairman’s exit; bank ‘baffled’, RBI backs governance

In a rare move, the regulator stepped in to assure markets that “there are no material concerns on record” with regard to HDFC Bank’s “conduct or governance.”Also Read: A look at past compliance issues at HDFC BankThe market paid little heed to management’s commentary. The stock fell as much as 8.4% intraday but pared losses to close 5.1% lower after the RBI issued its statement around 11 a.m. HDFC Bank, which has about a 15% weight in the BSE Sensex, contributed to broader declines; the Sensex ended 3.3% ...