HDFC Bank dismisses 4 employees over unauthorized exchange of old notes

Four employees, including a branch manager, of HDFC bank in Chandigarh were sacked for allegedly indulging in unauthorised exchange of demonetized currency notes, the bank said in a statement on Saturday.

"Services of the employees, posted with the Sector-15 branch here, were terminated immediately after it was discovered they were allegedly favouring a person known to one of them by exchanging his demonetized currency notes with new notes," it said. The bank said "an isolated" incident of "unauthorised" currency exchange involving the employees came to its notice after its systems detected an inconsistency.

In another incident, a bank manager and a cashier of a public sector bank were arrested by the Punjab police on Friday in Bathinda for allegedly charging money to "replace" demonetized currency notes.