The Indian rupee crashed to a record closing low against the US dollar due to rising global crude oil prices, a strengthening dollar, and geopolitical tensions in the Middle East.
A media report in the run up to the board meet had mentioned the names of Sashidhar Jagdishan, Kaizad Bharucha and Sunil Garg as the ones who had made the cut. Jagdishan and Bharucha are internal candidates, while Garg is working with American banking major Citigroup.
According to a bank source, a link failure was responsible for all the inconvenience
Among the Sensex firms, State Bank of India, Maruti Suzuki India, Axis Bank, NTPC, BEL, Adani Ports, Eternal, Sun Pharmaceuticals, Power Grid, ITC, UltraTech Cement, Trent, HCL Technologies, Mahindra & Mahindra, and HDFC Bank were the major gainers. On the other hand, Tata Steel, Tata Consultancy Services, Tech Mahindra, Titan, Bajaj Finserv, Tata Motors, Bharti Airtel and Bajaj Finance were among the laggards.
While HDFC Bank has vowed to recoup its lost market share in the credit card segment in three to four quarters by aggressively sourcing new cards, brokerages believe it is a little hard to come by, given how competitive the landscape has become, with other players in the market becoming equally aggressive to gain market share. Kotak Institutional Equities in its report on Monday said, "We would like to believe that the recovery in market share is likely to be gradual, if any. "All the key players, including Axis Bank, are now willing to expand their credit card portfolios as they have tested quite well against Covid-19."
A Pakistan-based gangster posted a video on social media purportedly showing the killing of a police officer in Gurdaspur, near the Indo-Pak border. A terror outfit has claimed responsibility for the incident, prompting a thorough investigation by Punjab Police.
Looking to regain lost ground in the credit cards segment, HDFC Bank on Monday announced a tie-up with leading payments company Paytm to start selling co-branded plastics before the onset of the festive season. The credit cards will be powered by Visa and will include offerings targeted at millennials, business owners and merchants, an official statement said. Paytm has a reach of over 330 million consumers and 21 million merchants, while HDFC Bank has over 5 million debit, credit and prepaid cards, and serves 2 million merchants through its offerings.
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
From the 30-Sensex firms, Maruti, Power Grid, Tata Motors Passenger Vehicles, HDFC Bank, Asian Paints and Tata Steel were among the biggest laggards. However, Titan, HCL Tech, Tech Mahindra, Infosys and Tata Consultancy Services were among the gainers.
From the Sensex firms, Bharat Electronics, Mahindra & Mahindra, Titan, NTPC, State Bank of India, Adani Ports, Tata Motors Passenger Vehicles and Bajaj Finserv were among the major laggards. Tata Consultancy Services, ICICI Bank, Infosys and HDFC Bank were among the gainers.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
The bank has decided to embark on a 'Technology Transformation agenda' to provide its customers smoother, faster, and better banking experience.
rediffGURU T S Khurana answers readers' personal income tax queries
HDFC Bank, the country's second largest private sector bank, has decided to follow its counterpart, ICICI Bank in increasing lending and deposit rates, in response to monetary tightening by the Reserve Bank of India.
Its debit card holders can now withdraw cash from any ATM without charges till June 30.
HDFC Bank has been declared as the 'Most Active Company' in the inaugural Stepathlon 2012 a 100-day race around a 'virtual' world.
The Reserve Bank of India (RBI) has sent showcause notices to ICICI Bank, HDFC Bank and Axis Bank, the three private lenders named in the first of three Cobrapost 'sting' cases.
HDFC Bank is on a global search to find a successor to the founding-chief executive Aditya Puri, as he would turn 70 next year.
HDFC Bank, India's second largest private bank, has signed an agreement with Movida, a mobile payments joint venture backed by Visa and Monitise to introduce a first of its kind mobile payment service.
Private sector lender HDFC Bank on Thursday said the Reserve Bank of India (RBI) has asked it temporarily stop all launches of its upcoming digital business-generating activities and sourcing of new credit card customers after outage at its data centre which impacted operations last month.
Among Sensex firms, Axis Bank, HDFC Bank, Reliance Industries, ICICI Bank, Bharat Electronics and Larsen & Toubro were the biggest laggards. However, Asian Paints, Maruti, Bharti Airtel and Bajaj Finance were among the gainers.
Private sector banks slipped in market capitalisation (mcap) during the July-September quarter, underperforming their government-owned peers as trade uncertainties dragged market sentiment, said S&P Global Market Intelligence. According to its analysis, HDFC Bank shed 4.8 per cent in mcap during the third quarter, while ICICI Bank's dropped 6.7 per cent.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
Largest private sector lender HDFC Bank on Monday reported a 29.13 per cent jump in consolidated net profit for the June quarter at Rs 12,370.38 crore. The bank, which recently merged mortgage financier parent HDFC into itself, had reported a net profit of Rs 9,579.11 crore in the year-ago period and Rs 12,594.47 crore in the preceding March quarter.
With slippages increasing every quarter, any derailment on growth or change in customers' repayment behaviour after moratorium may impact the overall asset quality. Correction, though, presents attractive buying opportunities, given the bank's sustained leadership position.
HDFC Bank will soon open 300 more ATMs in the country and it has placed an order with leading global technology firm NCR.
Among Sensex firms, Infosys, Bharti Airtel, Adani Ports, Sun Pharma, Tech Mahindra, Eternal, Axis Bank and Maruti were the major laggards. However, ITC, UltraTech Cement, Tata Steel and HDFC Bank were among the gainers.
Under the partnership, IOC's rural petrol pump outlets -- Kisan Seva Kendras -- will act as the bank's Business Correspondents, HDFC Bank said in a statement.
The law firm had specifically named the bank's chief executive and managing director of over 25 years, Aditya Puri, his designated successor Sashidhar Jagdishan and company secretary Santosh Haldankar as defendants.
From the Sensex firms, Mahindra & Mahindra, Maruti, Adani Ports, Bajaj Finserv, Titan, and HDFC Bank were among the major laggards. However, Hindustan Unilever, Trent, HCL Tech, Asian Paints, and Tata Steel were among the gainers.
HDFC Bank has announced a dividend of 45 per cent or Rs 4.50 per share for the year 2004-05.
HDFC Bank has ensured that no bank will be able to match them in the near future without bleeding on margins.
Shares of most European banks are down significantly.
From the 30-share pack, Titan, Tech Mahindra, Maruti Suzuki India, Wipro, Nestle India, TCS, Larsen & Toubro, HCL Technologies, Tata Steel and HDFC Bank were among the major laggards. NSE Nifty declined 69.75 points to settle at 17,153.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
HDFC Bank, which is set to overtake India's largest private sector bank ICICI in branch network by merging Centurion Bank of Punjab with itself, is now keen to expand overseas to tap the non-resident Indian market. "We have applied for licences in Bahrain and Hong Kong. We have a representative office in Dubai, while CBoP has one in Canada," HDFC Bank Managing Director Aditya Puri said.
The Supreme Court will decide whether banks can initiate insolvency proceedings while recovering dues from individual defaulters as private sector lender HDFC Bank has sought the apex court's intervention in this regard.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
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