The banking regulator was uncomfortable with the runaway pace at which consumer credit was growing.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
These stocks offer the best combination of maximum 'buy' recommendations from brokerages and share price upside over the next 12 months.
HDFC Bank has been declared as the 'Most Active Company' in the inaugural Stepathlon 2012 a 100-day race around a 'virtual' world.
HDFC and Barclays Bank on Monday announced they will exit their joint venture Intelenet Global Services by selling stakes to SKR BPO Services, co-owned by Blackstone GVP Capital and Intelenet management, for an undisclosed amount.
Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
HDFC Bank Q4 net rises 21% to Rs 2,806.91 crore.
Shares of ICICI Bank, Axis Bank and HDFC Bank on Friday tumbled as much as 4.5 per cent in morning trade following accusations that the lenders have indulged in money laundering.
Giving their presentation at the CLSA investor forum, HDFC chairman Deepak Parekh, vice chairman and chief executive officer Keki Mistry and MD Renu Karnad highlighted that the competitive environment has been stable and HDFC can deliver 18-20 per cent loan growth with stable margins and asset quality.
HDFC Bank was penalised R15 lakh in April 2011 for its role in the so-called derivatives scam. By no means is this big money for the bank but such regulatory actions tarnish the image of a bank. In the financial world, they call it reputation risk. HDFC Bank couldn't escape this despite its hatred for risks. What went wrong? Journalist Tamal Bandyopadhyay lifts the veil off the incident, and the bank's response, in this fascinating insight from his forthcoming book
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
Reserve Bank carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms
Customers would be able to make money transfers, pay utility bills and recharge their mobile and DTH connections with just one click and a single PIN entry
The lender has said it is betting on increased loan demand in smaller cities to boost growth in a slowing economy.
As part of its 'go-green' initiative, HDFC Bank has started sending PIN, unique code number, for debit card holders through SMS instead of the practice of sending it by post.
The equity cult has grown at a rapid pace in India in the last few years, with retail investors latching on to the stock markets like never before. At 126.6 million, the number of dematerialised (demat) accounts, where investors hold their securities in electronic form for trading purposes, are at record high levels. The growth rate, on an annualised basis, stood at 27 per cent in 2022-2023, up from barely 6 per cent a decade ago.
Titan surged 2.98 per cent, followed by IndusInd Bank, ITC, JSW Steel, Infosys, Tech Mahindra, Tata Consultancy Services and Maruti. Hindustan Unilever, Asian Paints, Bharti Airtel and HDFC Bank were among the laggards.
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The Securities and Exchange Board of India has charged HDFC Bank with not exercising due diligence, resulting in several demat accounts being opened under fictitious names leading to the IPO scam.
India's top home loan lender HDFC on Tuesday hiked lending rates by 0.50 per cent in the wake of Reserve Bank hiking key short term interest rates.
HDFC has 28.71 crore shares, which would go up to 143.55 crore after the split.
Among the Sensex firms, ICICI Bank and SBI led the index with the maximum gains of 4.68 per cent and 3.99 per cent, respectively. Other major gainers were Larsen & Toubro, Kotak Mahindra Bank and HDFC Bank. On the other hand, Wipro and Tata Motors defied the trend and traded in negative.
Reliance Industries Ltd was the biggest wealth creator during the five-year period from 2018 to 2023 while Adani Enterprises Ltd was the top all-round wealth creator, according to a study by Motilal Oswal Financial Services. The study, based on stock market performance of companies, said for the fifth time in succession, Reliance emerged as the largest wealth creator, adding Rs 9,63,800 crore wealth over 2018-23. It was followed by Tata Consultancy Services (Rs 6,77,400 crore wealth addition), ICICI Bank (Rs 4,15,500 crore), Infosys (Rs 3,61,800 crore) and Bharti Airtel (Rs 2,80,800 crore).
Mutual funds (MFs) are lining up distinguished new fund offerings (NFOs) for the next financial year to win over investors after a lukewarm response to product launches in the 2022-23 financial year (FY23). NFOs drew a lukewarm response in FY23 as launches were mostly in the passive debt space, which has a comparatively lower popularity among retail investors. The limited launches in equity space also failed to rake in huge sums due to subdued investor sentiments in a volatile market.
Wipro was the biggest loser in the Sensex pack, slipping nearly 2 per cent, followed by IndusInd Bank, State Bank of India, Kotak Mahindra Bank, ICICI Bank, HDFC Bank, Infosys, Tata Consultancy Services, HDFC and Bajaj Finserv. On the other hand, Nestle, Mahindra & Mahindra, ITC, HCL Technologies, Asian Paints and Maruti were among the gainers.
The two had signed an operating agreement for cross-selling each other's products recently.
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