HDFC Bank, India’s largest private sector lender, has announced a significant ex-gratia payment of Rs 1,500 crore to its employees in appreciation of their efforts during the merger with HDFC Ltd. Ex-gratia payments are often provided by companies to maintain a positive public image and demonstrate goodwill towards stakeholders. The bank’s CEO, Sashidhar Jagdishan, highlighted the challenging circumstances faced by employees during the merger and expressed gratitude for their hard work and dedication.