Skip to navigationSkip to content
FLUCTUATING FORTUNES

India’s once squeaky-clean HDFC Bank is now facing “strategic failure”

HDFC Bank-India-Aditya Puri
REUTERS/Danish Siddiqui
The rainy days.
  • Prathamesh Mulye
By Prathamesh Mulye

Writer, banking and economy

The crown jewel of India’s banking system is losing its sparkle.

HDFC Bank, India’s largest private sector lender, which has in the past been praised for its squeaky clean financial records and efficient management, has been grappling with one issue after another over the last couple of months.

The 26-year-old bank has seen a spate of top-level exits, faced allegation of malpractices in its auto loan division, and is undergoing a protracted search for a new CEO. The looming economic slump due to the Covid-19 pandemic is expected to worsen its woes.

Enrich your perspective. Embolden your work. Become a Quartz member.

Your membership supports a team of global Quartz journalists reporting on the forces shaping our world. We make sense of accelerating change and help you get ahead of it with business news for the next era, not just the next hour. Subscribe to Quartz today.

Membership includes:

こちらは英語版への登録ページです。
Quartz Japanへの登録をご希望の方はこちらから。