New York, New York--(Newsfile Corp. - September 23, 2026) - The law firm of Kirby McInerney LLP reminds HDFC Bank Limited ("HDFC" or the "Company") (NYSE: HDB) investors who acquired HDFC securities between July 17, 2023 and May 26, 2026, inclusive ("the Class Period") of the October 13, 2026 deadline to seek lead plaintiff appointment in the pending class action lawsuit.

Investors are encouraged to contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below to discuss your rights or interests in the securities fraud class action lawsuit at no cost.

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What Is The Lawsuit About?

The lawsuit alleges that HDFC made materially false and/or misleading statements and failed to disclose to investors that: (i) HDFC Bank camouflaged payments as marketing spend to pay higher interest to a state firm in order to induce deposits; (ii) these activities were approved by senior management; (iii) these activities likely violated regulations and the Company's own policies, including those that prohibit payments that could constitute improper inducement; and (iv) as a result of the foregoing, the Company's interest income and operating expenses were overstated.

On March 18, 2026, HDFC filed a letter with the Bombay Stock Exchange and the National Stock Exchange of India Limited, reporting the resignation of Mr. Atanu Chakraborty from his roles as part-time Chairman and Independent Director of HDFC. Mr. Charkraborty's resignation letter was attached, which stated that the basis of his decision to resign was that "[c]ertain happenings and practices within the bank, that I have observed over last two years, are not in congruence with my personal Values and Ethics." On this news, HDFC's stock price fell $2.09, or 7.28%, to close at $26.62 per share on March 18, 2026.

On May 27, 2026, the Indian Express published an article entitled "HDFC Bank 'camouflaged' crores as marketing spend to pay higher interest to state firm." The article reported that the Company made covert payments of approximately "Rs 45 crore," or $4.7 million USD, to Maharashtra State Road Development Corporation ("MSRDC") to induce MSRDC to make large deposits with the Company. The article also asserted that HDFC offered 6.01% interest to MSRDC, a 2.51% markup over the interest offered to other savings accounts, which it "disguised as sponsorship payments for a road safety awareness campaign run by MSRDC." On this news, HDFC's stock price fell $1.02, or 4.1%, to close at $23.78 per share on May 27, 2026.

[CLICK HERE TO LEARN MORE ABOUT THE CLASS ACTION]

What Should I Do?

Courts do not consider applications filed after the lead plaintiff deadline. The lead plaintiff oversees the litigation on behalf of the class and may influence key decisions, including litigation strategy and settlement. Courts regularly appoint individual investors as lead plaintiffs, not only institutions. Learn more about the lead plaintiff process and eligibility requirements here.

If you purchased or otherwise acquired HDFC securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form above, to discuss your rights or interests with respect to these matters at no cost.

[WHAT SHOULD I KNOW ABOUT SECURITIES CLASS ACTIONS?]

Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP's website.

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Source: Kirby McInerney LLP