HDFC Bank's board gave top PSU employees Rs 1 lakh fine for deposit arrangements?

HDFC Bank's board fined its Maharashtra PSU employees a total of Rs 100,000 (one lakh rupees) for their role in arranging deposits with MSRDC without proper authorization.

• Option 1: The fine was justified
• Option 2: This is an overreaction by the bank
• Option 3: No penalty was warranted