Srinagar, Sep 15: HDFC Bank has refunded around ₹4.50 crore to 13 depositors affected by alleged financial irregularities at its branch in Shopian district, officials said on Tuesday.
The refunds followed a “swift and time-bound” investigation by the Economic Offences Wing (EOW) of the Jammu and Kashmir Crime Branch into the alleged financial fraud, the agency said.
According to the EOW, an FIR was registered under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act following a complaint regarding financial irregularities at the HDFC Bank branch in Shopian.
The case was subsequently transferred to the Jammu and Kashmir Crime Branch on the directions of Police Headquarters for a detailed investigation.
During the probe, the EOW identified five principal accused, including former branch managers and employees of HDFC Bank who had been posted in Shopian and Pulwama. All five were arrested on February 18, 2026, officials said.
The investigation was subsequently expanded, and the EOW filed a chargesheet against 11 accused persons before the Court of the Chief Judicial Magistrate, Shopian, in May 2026.
The criminal proceedings in the case are currently continuing before the competent court, the agency said.
The refund of approximately ₹4.50 crore to the 13 affected depositors comes as the investigation into the alleged banking irregularities continues.
