Hagens Berman has filed a securities fraud class action against HDFC Bank Limited and its executives, alleging undisclosed practices involving covert marketing payments and above-market interest rates.
Why it matters. Investors in HDFC Bank Limited are affected as they may have suffered financial losses due to alleged fraudulent practices.
alleges violations of the federal securities laws.
Lead Plaintiff Deadline:** Oct. 13, 2026
a 2.51% markup over standard retail savings accounts
whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
Following this disclosure, HDFC ADS fell **4.1%** to close at $23.78 per share.
to induce the state firm to place large deposits with the bank.
provide MSRDC with a 6.01% interest rate (a 2.51% markup over standard retail savings accounts)
Class Period:** July 17, 2023 – May 26, 2026
HDFC secretly funneled approximately Rs 45 crore (approx. $4.7 million USD) to the Maharashtra State Road Development Corporation
On this news, HDFC ADS prices fell **7.28%** on heavy volume.
These covert practices violated the Reserve Bank of India's (RBI) Master Directions on interest rates
