HDFC Bank said that Maitra was quoted out of context and it has already written to the magazine. It also called it unfortunate that the comments had hurt ICICI Bank.
HDFC Bank on Monday said it aims to regain the two per cent market share in the credit card market it ceded to rivals during a recent ban, within a year by aggressively tapping into its existing depositor base. The bank will also focus on forging new partnerships to sell more cards and will not deviate from its conservative approach on taking credit risks as it goes aggressive in the market, its group head for payments and consumer finance, digital banking and IT, Parag Rao, told reporters. On August 17, RBI lifted the ban on HDFC Bank which had prevented it from issuing new credit cards from December 2020.
More people are now comfortable using their debit cards.
State Bank of India has entered into an alliance with HDFC Bank for sharing ATM networks to be operationalised from February 3 this year.
The base rate, or the minimum lending rate, of the country's second largest private sector bank will become 9.6 per cent from the existing 9.7 per cent, sources said.
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 base rate, or the minimum lending rate, of HDFC Bank will become 9.8 per cent from the existing 10 per cent, sources said.
Private sector lender HDFC Bank on Wednesday launched a service whereby its 115 lakh debit card holders can pay income tax through the bank's ATMs.
HDFC Bank Q4 net rises 21% to Rs 2,806.91 crore.
In a significant ruling, District Consumer Complaints Redressal Forum has held HDFC bank responsible for unauthorised fund transfer in an internet banking transaction.
HDFC Bank is to sell gold bars with the launch of a new service, 'Mudra' where it would offer customers and non-customers branded five gram gold bars with a purity of 99.9 per cent.
HDFC Bank on Thursday said network outages that led to a regulatory ban on new credit card sales were not due to transaction volumes, and affirmed that it continues to stay in touch with the RBI for restarting the services but giving a timeline for it will be difficult. The bank said it is on its way to creating a new technology architecture for the future as part of the "digital factory" and "enterprise factory" initiative. But, it conceded that outages will continue under the older system though it will be working to minimise the time taken to bring the service back. In December 2020, the RBI took the unprecedented step of stopping the largest private sector lender from selling any new credit cards and also launching new digital services, because of a series of network outages.
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
Donald D'Souza, the new head of HDFC Bank's equity capital markets business, prefers to keep himself fit by playing badminton.
HDFC Bank has partnered with National Insurance Company and Mastercard International to launch its "HDFC Bank Health Plus Credit Card" and expects to sell 15,000-20,000 cards in the first year of the alliance.
We will continue to grow at 25 per cent -- we can't handle more than that.
Paresh Sukthankar, the heir apparent to Aditya Puri, prefers an approach that is in sharp contrast to Puri's.
Apart from navigating the bank through the Covid crisis, Jagdishan may also have to deal with the latest development on the auto loan lending practice scam. He will be expected to deliver consistent profit growth of 20 per cent-plus quarter after quarter, irrespective of the operating environment.
Mutual funds (MFs) - flush with cash amid record inflows in July - invested heavily in the Rs 25,000-crore qualified institutional placement (QIP) of India's largest lender State Bank of India (SBI). Fund managers acquired SBI shares worth Rs 10,200 crore last month, making the lender their biggest buy in July.
Global fund managers remain bullish on the Japanese stock markets, which is now their most preferred destination in the Asian region. Both Morgan Stanley and Jefferies in their recent reports, have cited their preference for the Land Of The Rising Sun, which is fast becoming the land of the rising equities, too.
Reserve Bank carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms
HDFC Bank has been awarded 'The Asian Banker Excellence in Retail Banking Risk Management Award' in India for 2004 in recognition of its risk management abilities.
The banking, financial services and insurance (BFSI) sector has moved back into focus for investors this calendar year, after lagging the broader market for two consecutive years. BFSI stocks have outperformed benchmark indices in 2025 so far, driving a steady rise in the sector's weighting within the Nifty 50 index.
HDFC Bank's track record of consistent growth with high profit margins and robust risk management systems bode well for the future.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
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The Indian rupee, swaying through multiple headwinds, tiding over global trade disruptions and massive foreign fund outlfows, is unlikely to arrest its descent until tariff impact overhangs, notwithstanding robust domestic macroeconomic tailwinds. The Reserve Bank of India (RBI), which sees the rupee's depreciation as a silver bullet to offset the tariff shock, expects the currency to find its stable course once India reaches a trade deal with its largest trading partner, the US.
Following market regulator Sebi's decision to allow the bank to open fresh demat accounts, HDFC Bank on Friday said it has also received approval from the Reserve Bank for setting up additional branches and ATMs.
ICICI Prudential Asset Management Company has set a price band of Rs 2,061- Rs 2,165 per share for its Rs 10,600-crore initial public offering (IPO) that will open on Friday. At the upper end of the band, the country's largest asset manager will command a valuation of Rs 1.07 trillion.
The country's second largest private sector lender HDFC Bank on Monday slashed benchmark lending rate by 25 basis points to 15.75 per cent.
HDFC Bank customers will be able to do 11 transactions on their Apple device using the `watchbanking' service.
Former HDFC Bank CEO Aditya Puri will be guiding global Carlyle on investment opportunities across Asia as a senior advisor, the global private equity major said on Monday.
After a subdued first quarter of 2025-26 (Q1FY26), banks are now betting big on the festive season, rolling out attractive loan offers to boost credit growth in the second half of the current financial year (H2FY26) - a trend likely to be further accentuated by the second-order effects of the good services tax (GST) cuts.
A day after the Reserve Bank of India (RBI) lifted its ban on HDFC Bank on issuing new credit cards, the country's largest private sector lender on Wednesday said it had resources and plans in place to "further reinforce pole position in the credit card segment" and that it would "come back with a bang". "We will aggressively go to the market, with not just our existing suite of credit cards but also new offerings in the form of co-brands and partnerships," Sashidhar Jagdishan, managing director and chief executive officer of HDFC Bank, said in a letter to his employees. The bank's management had earlier indicated that the lender had been sourcing liability customers aggressively over the past few months.
The veteran banker has been instrumental in building the bank from scratch and turning it into the largest private sector lender of the country.
The board has approved the share swap ratio of one share of Rs 10 each of HDFC Bank for every 29 shares of Re 1 each held in Centurion Bank of Punjab, HDFC Bank said in a filing to the Bombay Stock Exchange.
The bank introduces project 'Khoj' to re-hire 3,000 ex-workers over 18 months.
Also more domestic borrowers are expected to access overseas markets for their funding needs as the rupee funds are still a costly affair.
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