McDonald's asks the consumer whether he wants a hamburger with cheese, with tomato or without tomato. We will also have to deliver products as and when and how the customer wants.
The country's largest private sector lender HDFC Bank on Tuesday announced a 0.35 per cent hike in lending rate. The hike, which comes a day ahead of the RBI's scheduled policy review, is the second such move from the lender in as many months, taking the cumulative hike to up to 0.60 per cent. The RBI had surprised all with a 0.40 per cent hike in key interest rates on May 4 to tame the inflation situation and is widely expected to follow up with further tightening of the policy on Wednesday.
HDFC Bank has awarded a contract worth Rs 6.2 crore (Rs 62 million) to Servion Global Solutions for the upgradation of its call centre services.
Google has unveiled the Pixel 10a in India and worldwide, expanding its Pixel series. The device can be pre-ordered through the brand's online store and an e-commerce platform, with sales starting next month.
Tech Mahindra was the top gainer in the Sensex pack, rising around 4 per cent, followed by HDFC, Infosys, Bajaj Finserv, Asian Paints and Bajaj Finance. Nifty rose 229.15 points to 18,102.75.
HDFC Bank, the country's second-largest private sector bank, has cut its base rate by 15 basis points (bps) to 9.70 per cent.
From the 30-Sensex firms, Tata Consultancy Services, Asian Paints, Maruti, Sun Pharma, Hindustan Unilever, ICICI Bank, Kotak Mahindra Bank, Tech Mahindra, HDFC Bank and Larsen & Toubro were among the biggest laggards. On the other hand, Tata Steel, NTPC, Axis Bank and UltraTech Cement were among the gainers.
The banking sector could see better loan growth in the third quarter of financial year 2026 (Q3FY26) with improved net interest margins (NIMs), though the full impact of latest rate cuts will be largely felt in the fourth quarter. There may be lower slippage in unsecured loans and microfinance institutions (MFIs) along with steady recovery trends, which should lower credit cost.
"The penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 46 (4) (i) of the Banking Regulation Act 1949, taking into account the failure of the bank to adhere to the aforesaid direction issued by RBI," said the central bank in a statement. This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers, the RBI added.
The pickup was driven partly by fresh corporate investment but more by higher working-capital demand.
Indian benchmark indices Sensex and Nifty experienced a sharp decline in early trading due to escalating tensions in the Middle East, driving crude oil prices higher. Global market bearishness and foreign fund outflows further contributed to investor unease.
Indian equity markets closed higher, driven by gains in PSU bank, auto, and financial stocks, following the US Supreme Court's decision on tariffs. Sensex climbed 479.95 points to 83,294.66, and Nifty advanced 141.75 points to 25,713.
L&T was the top gainer in the Sensex pack, rising over 3 per cent, followed by Bajaj Finance, Reliance Industries, IndusInd Bank, SBI and HDFC Bank. NSE Nifty surged 168.05 points to 14,653.05.
HDFC Bank, India's second-largest private bank, has overtaken ICICI Bank, the largest private player, in terms of market capitalisation to top the rankings among private banks.
Bharat Electronics, Power Grid, NTPC and HDFC Bank were among the other major gainers. However, Infosys, Tata Steel, Eternal and Tech Mahindra were among the laggards.
Sectoral funds, focused exclusively on public sector banks (PSBs), have delivered the strongest returns among domestic mutual fund (MF) categories over the past six months. However, active banking funds have significantly lagged because of their heavy tilt towards private lenders.
Banks and NBFCs are launching festival offers, including lower loan rates, cashback, EMI schemes and GST-linked benefits to tap rising demand ahead of Diwali
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The country's second largest private sector lender HDFC Bank promoted Paresh Sukthankar as the deputy managing director.
The money mule scam has reached Indian shores. Banks have noticed instances of fraudsters based overseas, posing as global payment companies, luring gullible people into joining them as "money transfer agents" and using their bank accounts to route ill-gotten money.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Moody's downgraded local currency bank deposit ratings.
Indian markets on Dalal Street rallied sharply as easing tensions in the US-Iran conflict and stable oil prices boosted sentiment. Track Nifty 50 and BSE Sensex performance and key global triggers.
HDFC Bank Ltd has reported a 30.48 per cent rise in net profit at Rs 387.6 crore (Rs 3.87 billion) for the fiscal ended March 31, 2003, compared to Rs 297.04 crore (Rs 2.97 billion) posted in the previous fiscal.
A man in Uttar Pradesh's Chandauli district has been arrested for allegedly killing his younger brother due to a property dispute and ongoing financial tensions. The accused confessed to the crime, citing humiliation and a desire to control his brother's assets as motives.
HDFC Bank has hiked its benchmark prime lending rate (BPLR) by 0.25 per cent to 15.25 per cent with immediate effect.
'The government's decision to keep interest rates unchanged on small savings schemes will certainly constrain banks' ability to cut deposit rates further.'
He urged employees to work as a team, follow the vision the lender has set out for itself and beat competition.
The Delhi Consumer Commission has directed the HDFC Bank to pay Rs 35,000 as compensation to an export house for forcibly seizing a financed car on its failure to pay two instalments.
Total income rose to Rs 19,322.63 crore during the quarter under review, was up 17.08 as against Rs 16,502.97 crore.
PowerGrid, Tech Mahindra, Infosys, Nestle India and HCL Tech too ended with losses.
In two months, the lender has disbursed about 25,000 car loans
Changes in lifestyle due to aspects like lockdowns and work from home has created additional demand for items such as television sets, laptops, Wi-Fi routers and even vacuum cleaners, which the bank is funding at present.
HDFC Bank slashes base rate by 0.35 per cent to 9.35 per cent, effective Tuesday.
Volatile stock market movements are likely to continue to spook the potential investors, while huge returns enjoyed just a few days ago may not be repeated, HDFC Bank said.
The telecom regulator on Friday released a list of 40 "defaulter" principal entities, including large banks like HDFC Bank, SBI and ICICI Bank, that are not fulfilling the regulatory norms on bulk commercial messages despite repeated reminders. Hardening its stance on the issue, the Telecom Regulatory Authority of India (TRAI) warned that defaulting entities should comply with the stipulated requirements by March 31, 2021 "to avoid any disruption in the communication with customers" from April 1, 2021. "As sufficient opportunity has been given to principal entities/ telemarketers to comply with the regulatory requirements and that the consumers cannot be deprived of the benefits of the regulatory provisions any further, therefore it has been decided that from April 1, 2021, any message failing in the scrubbing process due to non-compliance of regulatory requirements will be rejected" by the system, TRAI said in a statement.
The bank had reported a net profit of Rs 2,325.70 crore in last FY.
The 30-minute auto loan is available for HDFC Bank customers, as well as others.
The bank's base rate currently stands at 10 per cent and the last movement in it was in November last year, when it was hiked by 0.20 per cent.
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.
Bharat Electronics, Bharti Airtel, HDFC Bank, Kotak Mahindra Bank, Titan and Eternal were also among the laggards from the Sensex pack. However, Bajaj Finance, Tata Steel, ICICI Bank, HCL Tech and Infosys were among the gainers.
