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The country's second largest private sector lender HDFC Bank promoted Paresh Sukthankar as the deputy managing director.
We believe the retail banking still remains a great opportunity. It is a long-term story. The level of penetration of the retail credit in India is estimated around 10 per cent of GDP as against other Asian countries, where it is 30-40 per cent.
RBI deputy governor, K C Chakrabarty had also said that there was no money laundering involved as alleged by the Cobrapost.
Paresh Sukthankar, the heir apparent to Aditya Puri, prefers an approach that is in sharp contrast to Puri's.
In an interview with Manojit Saha and Somasroy Chakraborty, executive director Paresh Sukthankar says the bank is adequately capitalised to meet the growth targets for at least a couple of years.
Private sector HDFC Bank, on Tuesday said that it would announce its base rate on Wednesday and that it did not expect any impact on its profitability or growth because of the change in the lending regime.
Private sector lender HDFC Bank on Friday reported a 31.64 per cent jump in its net profit at Rs 818.50 crore (Rs 8.18 billion) for the third quarter ended December 2009, over the corresponding period a year earlier.
HDFC Bank Q4 net rises 21% to Rs 2,806.91 crore.
More people are now comfortable using their debit cards.
If customers did not see value in what we provide them at the price point at which we provide these, they would not have been there with us in such a competitive market, says HDFC deputy managing director Paresh Sukthankar.
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.
The bank lost out on fairly meaningful quantum of fees from point of sale terminals and ATM usage during the demonetisation exercise.
RBI is closely monitoring monsoon.
Leaving behind the luxe life and dapper suits of foreign banks, Puri and his team at the upstart venture shared fizz drinks, wore a footwear brand popular among the middle class, shared a rat-infested space in a yet-to-be gentrified work space to plan and execute it.
ICICI Bank, HDFC Bank and Axis Bank reported healthy loan growth and asset quality.
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