HDFC Bank to refund GPS commissions

Tribune News Service

Updated At : 12:03 PM Jun 18, 2021 IST

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Mumbai, June 17

HDFC Bank on Thursday announced a refund of the controversial ‘GPS device commission’ charged to auto loan borrowers for six years.

The bank’s then chief executive Aditya Puri had last year admitted to irregularities in the auto loan disbursements by its team after specific allegations surfaced online. The bank was also fined Rs 10 crore by the RBI for the lapses earlier this year. It be credited to the customer’s repayment bank account. — PTI

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