The Securities and Exchange Board of India (SEBI) has issued an administrative warning letter to HDFC Bank violation of norms related to the lender’s merchant banking activities, according to an exchange filing.

“SEBI has issued an administrative warning letter to the Bank, in relation to observations made during the course of its periodic inspection of investment banking activities undertaken by the Bank, thereby alleging non-compliances with certain provisions of the SEBI (Merchant Bankers) Regulations, 1992, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and SEBI (Prohibition of Insider Trading) Regulations, 2015,” the notice said.

On its part, HDFC Bank said it is working to address the concerns mentioned in the warning letter and that it does not see any impact of the same on its financials. The warning letter dated December 9 was received by the bank on December 11.

Shares of HDFC Bank ended trading 0.3 per cent lower at ₹1,859 apiece on the BSE today.