Try GOLD - Free
HDFC Cracks Down on 'Temporary' Deposits
Hindustan Times East UP
|April 29, 2025
India's largest private sector lender is cracking down on the practice of using temporary deposits at the end of reporting quarters to shore up numbers.
MUMBAI/NEW DELHI: HDFC Bank Ltd has sent multiple emails to employees, the latest one in late March, stating this would not be tolerated. Mint has seen a copy of the March-end email that notes the practice of creating deposits by using the bank's own loan facilities.
"During (the) bank's due diligence check, temporary creation of CASA/TD (current account and savings account/term deposits) has been identified by utilizing CCOD (cash credit, overdraft) without observable business logic/requirements," it said.
As per HDFC Bank's website, cash credit (CC) is a short-term loan offered to companies, businesses and financial institutions for working capital requirements. On the other hand, an overdraft (OD) facility refers to the credit funding offered by banks to individuals and companies.
This story is from the April 29, 2025 edition of Hindustan Times East UP.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Hindustan Times East UP
Hindustan Times East UP
In Bihar, the INDIA bloc fights a perception battle
Will it be the National Democratic Alliance (NDA) that will assume office in Patna on November 14, when the Bihar assembly election results are announced? Or will it be the Mahagathbandhan (a phalanx of the larger Opposition alliance, the INDIA bloc, in Bihar)? There's also a third player that is keenly watched — the Jan Suraaj Party, founded by pollster Prashant Kishor, who may emerge as a kingmaker.
4 mins
October 13, 2025
Hindustan Times East UP
The recipe of trumping odds: The RSS playbook
I have been watching the Rashtriya Swayamsevak Sangh (RSS) — in its 10Ist year now — for more than 50 years. An obvious curiosity arises about the secret of its success.
3 mins
October 13, 2025
Hindustan Times East UP
The gains of recognising the Taliban govt in Kabul
It could help India cultivate political goodwill and public support in Afghanistan
4 mins
October 13, 2025
Hindustan Times East UP
3 held for Bengal gang rape, row over CM reax
KOLKATA: Three people were arrested on Sunday for their alleged involvement in the gang rape of a student of a private medical college in West Bengal’s Paschim Bardhaman district, police said even as chief minister Mamata Banerjee kicked off row with her remark that girls should not be allowed to go outside the campus at night.
1 min
October 13, 2025
Hindustan Times East UP
OPERATION BLUE STAR A MISTAKE: P CHIDAMBARAM
Congress leader P Chidambaram said Operation Blue Star was not the right way to capture militants holed up in the Golden Temple in 1984, due to which the then prime minister, Indira Gandhi, “paid with her life”.
1 min
October 13, 2025
Hindustan Times East UP
US intel helps Ukraine target Russian energy infra: Report
The US has been helping Ukraine mount long-range strikes on Russian energy facilities for months in a joint effort to weaken the economy and force President Vladimir Putin to the negotiating table, the Financial Times (FT) reported on Sunday.
1 min
October 13, 2025
Hindustan Times East UP
Dozens killed in Af-Pak clashes, border closed
Afghanistan and Pakistan said on Sunday they killed dozens of each other's troops during a night of heavy border clashes between the two countries.
1 mins
October 13, 2025
Hindustan Times East UP
Today's united India is a result of Sardar Patel's leadership'
'Sardar @150 Unity March to be held from October 31 to November 26, says CM
1 min
October 13, 2025
Hindustan Times East UP
PHILIPPINES AND CHINA TRADE ACCUSATIONS OVER VESSEL CLASH IN THE SCS
The Philippines and China accused each other on Sunday of responsibility for a maritime confrontation near disputed islands in the South China Sea (SCS), further escalating tensions in the resource-rich waterway.
1 min
October 13, 2025
Hindustan Times East UP
Visit of Afghanistan foreign minister to Taj Mahal cancelled
AGRA: The planned visit of Afghanistan's foreign minister, Amir Khan Muttaqi, to the Taj Mahal, Agra, on Sunday was cancelled at the last moment, officials confirmed, without providing a reason.
1 min
October 13, 2025
Listen
Translate
Change font size