HDFC Bank has refunded around Rs 4.50 crore to 13 depositors affected by a financial fraud unearthed by the Economic Offences Wing (EOW) of the Jammu and Kashmir Crime Branch at its branch in Shopian district, officials said.
The refunds followed a “swift and time-bound” investigation and prompt action by the EOW Kashmir in the Shopian HDFC Bank irregularities case, the agency said in a statement.
The EOW said the matter pertains to an FIR registered under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act following a complaint regarding financial irregularities at the bank’s Shopian branch.
The case was later transferred to the Crime Branch J&K on the directions of Police Headquarters (PHQ), J&K, for detailed investigation.
During the probe, the EOW Kashmir identified five principal accused, including former branch managers and employees of HDFC Bank posted in Shopian and Pulwama. All five were arrested on February 18, 2026, the statement said.
The EOW subsequently filed a chargesheet against 11 accused persons before the Court of the Chief Judicial Magistrate, Shopian, in May 2026, it said.
The criminal proceedings are continuing before the competent court, the statement added.