HDFC Bank likely tied GPS with car loan

In a attainable breach of regulatory pointers, debtors of HDFC Financial institution had been compelled to take GPS units together with the acquisition of a automobile for about 4 years until December 2019, sources mentioned.Based on sources, the executives of the lender compelled automobile mortgage prospects to get GPS units throughout 2015 to 2019.Reportedly, these GPS units had been of a selected make indicating a battle of curiosity and violation of regulatory norms.A HDFC Financial institution spokesperson mentioned, “Now we have mentioned (MD and CEO Aditya Puri’s AGM deal with) what we needed to within the matter”.

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