HDFC Bank's Branch Banking Head Sampath Kumar to Appeal Termination, Sources Say Sampath Kumar, the former group head of branch banking at HDFC Bank, is reportedly planning to appeal against his termination, according to sources. The decision comes after the bank announced the removal of Kumar and two other Dubai-based senior executives for their alleged involvement in the mis-selling of additional tier-1 (AT-1) bonds issued by Credit Suisse through Dubai’s DIFC branch. A person close to Kumar, who requested anonymity, stated that the termination was based on an oversight issue rather than direct responsibility for the alleged misconduct. “He wasn’t directly responsible for what happened in Dubai,” the source said, adding that Kumar has informed them he intends to challenge the decision. The bank’s internal appeal process will be handled by its appellate authority, which is the board of directors. However, it remains unclear whether the entire board will review the case or if a specialized committee will be formed to address the appeal. Kumar, who oversaw the west and south zones of the bank’s retail branch operations, was also tasked with managing the bank’s international mandates, which likely contributed to his accountability for the DIFC branch’s alleged misdeeds. HDFC Bank confirmed the termination of Kumar and the two other executives in a statement to exchanges on Monday. The bank cited actions taken by the Group Non-Executive Directors’ Committee (GNRC) during a meeting on March 9, 2026, which included the removal of the three employees from the bank’s services. The GNRC, a body responsible for corporate governance and risk management, reportedly determined that the executives were accountable for their roles in the mis-selling of AT-1 bonds.#dubai #reserve_bank_of_india #hdfc_bank #sampath_kumar #credit_suisse
