Page 6 - Hdfc Bank

HDFC Bank hikes fixed deposit rates on select tenues: All you need to know

For its general customers, HDFC Bank now offers interest rates that range from 3% to 7.25%, depending on the tenure of the deposit

Sensex plunges over 5,000 points intraday; check factors behind the fall

The sharp drop was primarily driven by uncertainty surrounding the outcome of the Lok Sabha 2024 election results

HDFC Bank debit, credit cards won't work for 2 short windows on June 4, 6th

This is likely due to a system upgrade that HDFC Bank is performing. It's important to note that DFC Bank is not affected by this outage.

RBI's increased scrutiny of banks, financial firms leads to restrictions

Since 2020, the RBI has placed business restrictions on many players

From ICICI to HDFC: S&P upgrades outlook on six Indian banks to positive

The rating agency said in a statement that India's banking system continues to ride the good economic growth momentum, well supported by recent structural improvements in the system

HDFC Bank to stop SMS alerts for small UPI payments soon; details here

The private lender notified its customers via email and SMS that they will continue to receive email alerts for all UPI transactions

Mcap of 9 of top-10 most valued firms jump Rs 1.85 trn; Reliance sparkles

Nine of the top-10 most-valued firms together added Rs 1,85,320.49 crore in market valuation last week, with Reliance Industries Ltd and HDFC Bank stealing the show with maximum gains, in line with rally in equities. Last week, the BSE benchmark zoomed 1,404.45 points, or 1.89 per cent. The 30-share BSE Sensex hit its all-time intra-day high of 75,636.50 on Friday. From the top-10 most-valued firms pack, only ITC emerged as the laggard. The market valuation of Reliance Industries jumped Rs 61,398.65 crore to reach Rs 20,02,509.35 crore. HDFC Bank added Rs 38,966.07 crore, taking its valuation to Rs 11,53,129.36 crore. The market valuation of Life Insurance Corporation of India (LIC) rallied Rs 35,135.36 crore to Rs 6,51,348.26 crore. Bharti Airtel's market capitalisation (mcap) zoomed Rs 22,921.42 crore to Rs 7,87,838.71 crore and that of Hindustan Unilever climbed Rs 9,985.76 crore to Rs 5,56,829.63 crore. The mcap of Infosys went up Rs 8,821.99 crore to Rs 6,08,198.38 crore an

Swiggy HDFC Bank credit card revises cashback plan: All you need to know

Instead of cashback appearing as Swiggy Money on the Swiggy app, it will now be reflected directly on your credit card statement

HDFC Bank exits Protean eGov Tech, sells entire stake for Rs 150 crore

Private sector lender HDFC Bank on Tuesday sold its entire 3.20 per cent stake in Protean eGov Technologies for Rs 150 crore through an open market transaction. According to the bulk deal data available with the BSE, HDFC Bank sold 12,94,326 shares, amounting to a 3.20 per cent stake in Protean eGov Technologies. The shares were offloaded at an average price of Rs 1,160.15 apiece, taking the transaction value to Rs 150.16 crore. Meanwhile, Nippon India Mutual Fund purchased 12.78 lakh shares or 3.16 per cent stake in Protean eGov Technologies for Rs 148 crore. The shares were acquired at an average price of Rs 1,160 per piece, taking the deal size to Rs 148.28 crore, as per the data on the BSE. Details of the other buyers could not be ascertained. Shares of Protean eGov Technologies gained 0.84 per cent to close at Rs 1,205.60 apiece on the BSE on Tuesday.

HDFC Bank's Pixel Play credit card lets you pick your perks! Is it worthy?

The card allows you to tailor benefits to your lifestyle and pick shops to earn cashback, as well as choosing card design and billing cycle date.

Why did Chris Wood of Jefferies sell his holding in HDFC Bank stock?

Calendar year 2024 (CY24) will be a good year for 'quality stocks and bonds', according to analysts at Morgan Stanley. Stocks, they said, have priced in a 'perfect landing' scenario

IFC extends $500 million credit line to HDFC Bank for micro loans

Presently, non-banking financial companies (NBFCs), including microfinance institutions (MFIs) and small finance banks, are the major lenders to women seeking loans for income generation purposes

HDFC Bank raises $500 mn from IFC to extend microloans to women borrowers

HDFC Bank on Friday said it has raised USD 500 million from IFC for onlending to underserved women borrowers. The country's largest private sector lender will extend finance for income generation, fostering financial inclusion and socio-economic growth, as per an official statement. It will extend the microloans to self-help groups and joint liability groups of women enrolled under the Sustainable Livelihoods Initiative (SLI) of the lender. HDFC Bank's group head for Treasury, Arup Rakshit, said this is a longer duration credit facility which has been availed by the lender, and it will help in boosting the bank's efforts in empowering women. The statement said even though the non-banks have a deeper reach and serve two-thirds of the microfinance market, banks' extensive reach and lower funding costs can be leveraged to extend microloans to women. "Access to financial services is key to empowering women and strengthening the economy," IFC's regional director for South Asia Imad ...

6-7% of overall annual expenses are on tech related aspects, says HDFC Bank

Country's largest private sector lender HDFC Bank spends 6-7 per cent of its overall expenses on technology-related aspects every year, a senior official said on Tuesday. Parag Rao, HDFC Bank head for payments and consumer finance, said the bank has been investing in digital capabilities amid "cloudification", where tasks are moved to the cloud. The comments come amid greater regulatory scrutiny on the technology front. "We spend about 6-7 per cent of our overall expenses on technology," he told reporters here on the sidelines of a digital credit card launch of the bank. He explained that the spends go up initially when the capital expenditure is higher and then go down gradually. About 50 per cent of the spend is on employees, while the rest is on remaining aspects like hardware, software and keeping the network operational, he said. It can be noted that HDFC Bank was the first major lender to be slapped with business restrictions like a pause on issuing new credit cards and als

HDFC Bank's IT expense 7% of total spending, says senior executive

Digital investments part of lender's 'transformation journey', says Parag Rao

Mcap of 6 of top-10 most valued firms decline by Rs 1.73 trn; HDFC lags

The combined market valuation of six of the top-10 most valued firms eroded by Rs 1,73,097.59 crore last week, with HDFC Bank and Life Insurance Corporation of India taking the maximum hit in line with weak equities. Last week, the BSE benchmark tanked 1,213.68 points or 1.64 per cent. The market valuation of HDFC Bank slumped Rs 60,678.26 crore to Rs 10,93,026.58 crore. LIC's valuation tanked Rs 43,168.1 crore to Rs 5,76,049.17 crore. Reliance Industries faced an erosion of Rs 36,094.96 crore to Rs 19,04,643.44 crore from its market valuation. The market capitalisation (mcap) of ICICI Bank declined by Rs 17,567.94 crore to Rs 7,84,833.83 crore, and that of State Bank of India went lower by Rs 11,780.49 crore to Rs 7,30,345.62 crore. ITC's valuation dipped by Rs 3,807.84 crore to Rs 5,40,838.13 crore. However, the mcap of Hindustan Unilever climbed Rs 33,270.22 crore to Rs 5,53,822.16 crore. Tata Consultancy Services (TCS) added Rs 20,442.2 crore, taking its valuation to Rs ...

Securitisation market booms as shadow banks diversify funding sources

Sector is expected to grow further as credit demand grows, say senior executives

Atanu Chakraborty re-appointed HDFC Bank chairman for three years

Atanu Chakraborty is not related to any other directors or key managerial personnel of the bank.

AU Small Finance Bank to double balance sheet to Rs 2.5 trn in 3 yrs: MD

AU Small Finance Bank is targeting to double its balance sheet size to Rs 2.5 lakh crore in three years, helped by the acquisition of Fincare SFB and the growing consumption trend in the country. The bank earlier this week operationalized Authorised Dealer (AD-I) license with foray in forex with 'AU Remit' and Cross-border Trade with 'AU DigiTrade'. "We are targeting a growth of 25 per cent in the next three years and we should double the balance sheet size to Rs 2.5 lakh crore by the time we complete one decade of existence," AU Small Finance Bank managing director Sanjay Agarwal told PTI. The bank started its business in 2017, with a balance sheet size of Rs 10,000 crore, which has now crossed Rs 1.25 lakh crore. Human resources has gone up from just 3,000 to 46,000 during the same period, he said. At the same time, the branch network has increased from 300 to 2,400 touch points currently, he said. Pointing out that banks are formed by the people and for the people, he said, the

Broking industry aims to double customer count in 2 years: Dhiraj Relli

Relli delves into the broking house's journey and highlights key trends in the broking industry