The $100-mn West Asia nightmare giving sleepless nights to HDFC Bank's NRI customers
HDFC Bank is facing complaints over the sale of a financial product that raised $100 million, the second time in recent years that India's biggest private lender is embroiled in such trouble in West Asia.
70 investors from West Asia have raised concerns over HDFC Bank's handling of a high-yielding financial product, marking the second instance of customer complaints against the bank in the region. The incident highlights the challenges faced by the bank's NRI customers, who are reportedly struggling with a $100-million nightmare.
Shayan, a banking and finance reporter at Mint, has been covering the story. He has spent 15 years as a journalist, specializing in explaining the intricacies behind India's financial shifts. His work has covered major milestones, including the rollout of the Insolvency and Bankruptcy Code (IBC) and various banking mergers.
Written by urgent.news from Live Mint's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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