SRINAGAR: HDFC Bank has refunded around ₹4.50 crore to 13 depositors affected by alleged financial irregularities at its Shopian branch, following a swift and time-bound investigation by the Economic Offences Wing (EOW) Kashmir of Crime Branch J&K.
The refunds were made after the EOW investigated allegations of financial fraud at the bank’s Shopian branch, providing relief to the affected depositors, officials said.
The case relates to FIR No. 30/2025, registered under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act following a complaint regarding alleged financial irregularities at the branch. The investigation was later transferred to Crime Branch J&K on the directions of Police Headquarters for a detailed probe.
During the investigation, the EOW identified five principal accused, including former branch managers and employees of HDFC Bank posted at Shopian and Pulwama. All five were arrested on February 18, 2026.
After completing the probe, the EOW filed a chargesheet against 11 accused persons before the Court of the Chief Judicial Magistrate, Shopian, in May 2026. The criminal proceedings are continuing before the competent court.
The EOW said the agency remains committed to taking the case to its logical conclusion and ensuring that all accused persons are dealt with strictly in accordance with law.
