Two managers of HDFC Bank who were arrested on grounds of using illegal practices for recovering credit card payments have been released on bail.

HDFC Bank officials have denied all charges set against the managers and said that the FIR filed was "baseless, malicious and false", and that it will "explore all legal avenues" to protect its reputation as well as that of its employees.

The managers were arrested following the complaint filed by a man claiming that they were harrassing and threatening him and his family regarding credit card dues.

Another case wherein SBI's Kodencherry branch had been accused of denying education loan to a girl student has sanctioned the loan. A detailed enquiry was carried out on the issue and a report by by Kozhikode district collector PB Salim recommended the processing of the loan.