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Dubai halts HDFC from adding new customers
Mint Mumbai
|September 30, 2025
HDFC Bank Ltd, the largest private sector lender, has been banned from onboarding new customers at its Dubai branch after a regulator flagged lapses in its processes. The bank was penalized by a Dubai regulator for offering financial services to local clients who were not onboarded at the Dubai International Financial Centre, the Mumbai-based lender said in an exchange filing late on Friday.
Therestrictions, which came into effect from 26 September, curtail HDFC Bank's ability to attract new business in one of the world’s fastest-growing financial hubs.
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