Whistleblower complaints rise across private banks in FY25

Whistleblower complaints rose in India’s private banks in FY25, with Axis and ICICI Banks seeing notable increases. HDFC Bank reported a decrease. Despite regulatory requirements, challenges in execution and protection persist, prompting a push for stronger governance and credible complaint-handling mechanisms. Rupinder Malik, Partner, JSA Advocates and Solicitors, said the challenge lies in execution with issues around how complaints are triaged at the initial stage and whether matters are escalated appropriately. “There is a stronger regulatory and governance push now towards making these mechanisms more credible and trusted especially through clearer anti-retaliation safeguards, audit trails, and periodic reviews of how complaints are actually handled on the ground,” Malik added. Read more