HDB CLASS ACTION NOTICE: Faruqi & Faruqi, LLP Reminds HDFC Bank Limited Investors of Securities Class Action Lawsuit Deadline on October 12, 2026

Faruqi & Faruqi, LLP , a leading national securities law firm, is investigating potential claims against HDFC Bank Limited (""HDFC Bank Limited" or the "Company"") (NYSE: HDB) and reminds investors of the October 12, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

The complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) HDFC Bank camouflaged payments as marketing spend to pay higher interest to a state firm in order to induce deposits; (2) these activities were approved by senior management; (3) these activities likely violated regulations and the Company's own policies, including those that prohibit payments that could constitute improper inducement; (4) as a result of the foregoing, the Company's interest income and operating expenses were overstated; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On March 18, 2026, HDFC filed a letter with the Bombay Stock Exchange and the National Stock Exchange of India Limited, reporting the resignation of Mr. Atanu Chakraborty from his roles as part-time Chairman and Independent Director of HDFC, with his resignation letter stating that "[c]ertain happenings and practices within the bank, that I have observed over last two years, are not in congruence with my personal Values and Ethics." On this news, the price of HDFC's American Depositary Shares (""ADS""") fell $2.09, or 7.28% to close at $26.62 per share on March 18, 2026, on unusually heavy trading volume.

On May 27, 2026, The Indian Express published an article entitled "HDFC Bank 'camouflaged' crores as marketing spend to pay higher interest to state firm," reporting that HDFC Bank had made covert payments of approximately "Rs 45 crore," or approximately $4.7 million USD, to the Maharashtra State Road Development Corporation (""MSRDC""") to induce MSRDC to make large deposits with the Company, with the differential interest disguised as sponsorship payments, and that an internal probe concluded that over ten top officials bore responsibility, including HDFC's CEO Sashidhar Jagdishan. On this news, HDFC's ADS price fell $1.02, or 4.1%, to close at $23.78 per share on May 27, 2026, on unusually heavy trading volume.