HDFC Bank, the country's largest private-sector lender, lost to competition wholesale loans of around Rs 50,000 crore after it increased interest rates in May, said Chief Financial Officer Srinivasan Vaidyanathan in an analyst call. "There were some customers who were offered lower rates by other market participants. "But we decided not to cut back on our rates," he said while addressing analysts after the announcement of the bank's Q1 earnings.
The Supreme Court on Tuesday said that it will hear on October 6 pleas challenging the Patna high court's August 1 order giving the go-ahead for a caste survey in Bihar.
Having issued over 21 lakh cards since lifting of curbs last year, the country's largest private sector lender HDFC Bank is planning to launch a slew of digital initiatives over the next few quarters, a top official said. The Reserve Bank had barred HDFC Bank from issuing new credit cards following incidents of outages in the lender's internet banking /mobile banking/ payment utilities over the previous two years. The curbs were partially lifted after eight months in August last year. Finally, in March 2022, the RBI lifted all restrictions placed on the bank, including digital launches.
The Department of Justice in the Union Law Ministry issued separate notifications announcing the appointment of acting chief justice of the Bombay high court Justice Sanjay Vijaykumar Gangapurwala as the chief justice of the Madras high court and Justice Ramesh Deokinandan Dhanuka as the chief justice of the Bombay high court.
In a mixed bag for HDFC Bank ahead of the parent HDFC's merger with itself, the Reserve Bank of India has declined to make exceptions on certain aspects, and has offered some leeway on others. The country's largest private sector lender, which is aiming to conclude the merger with the home finance major by July, had written to the central bank seeking certain forbearances after announcing the $40-billion merger in April last year. In an exchange filing this evening, HDFC Bank said it received a response from RBI on Thursday and also said that there are a few pending issues.
The Lok Sabha contest in Thiruvananthapuram is shaping up to be a significant battle involving key candidates like Shashi Tharoor, Rajeev Chandrasekhar, and Panniyan Ravindran. This three-cornered fight highlights the political dynamics in Kerala's capital city, with each candidate bringing their own vision and promises for the region's development, notes Rajeev Srinivasan.
In the quarter gone by (Q3 of FY22), private lender HDFC Bank issued around 950,000 credit cards, its highest ever credit card issuance in any single quarter. Since the Reserve Bank of India (RBI) revoked the embargo on it in August 2021 to issue new credit cards, the lender has issued 1.37 million credit cards. This is according to a senior bank executive, who was present in an analysts' call after the lender's Q3 earnings. In Q3, we achieved the highest ever issuance, with 950,000 card issuances.
The bench noted even the high court has said in its judgement that 80 per cent of the work related to the survey has been completed.
Defying trends, the country's largest private sector lender, HDFC Bank, has shifted its asset mix significantly towards high-rated segments. As a result, its wholesale-to-retail mix has tilted heavily in favour of wholesale, even at the cost of margins. Further, it is even looking to ramp up its branch network, with an aim to service clients within a 1-2 km radius rather than the current 5-6 km radius.
'There is a general feeling among parents of students, especially female students, that co-educational study in Christian institutions is highly unsafe for the future of their children'
Telecom service operator Airtel on Thursday urged the government not to charge high fees for allotting 5G spectrum, saying a faster roll out of the next-generation telecommunication network can have more benefits than collecting revenue in upfront cost. Sunil Bharti Mittal, chairman of Bharti Enterprises which runs the country's second largest telco, said that there are a variety of applications across sectors ranging from healthcare to video interactions, which will make 5G a technology to be introduced as soon as possible. "5G is important and that's why we keep on requesting the government to make the 5G as an enabler for hundreds of things that we develop in the country, to keep the spectrum at affordable pricing, to not load the industry too much," Mittal said at the Times Network India Economic Conclave.
The Supreme Court on Monday said that it would hear on July 6 a plea filed by former Tamil Nadu Chief Minister Edappadi K Palaniswami challenging the Madras high court order staying the passing of any unannounced resolutions in the meeting of the All India Anna Dravida Munnetra Kazhagam general and executive councils concerning the issue of single leadership of the party.
'We created war rooms -- from an IT perspective and also a customer war room -- to address any challenges that come up.'
After a sequential fall in November, due to high base and waning of the festival season effect, credit card spends have picked up again in December, recording over Rs 1 trillion for the 10th consecutive month. Latest figures released by the Reserve Bank of India (RBI) show that credit card spends in December 2022 touched Rs 1.26 trillion, up 10.21 per cent compared to November. And, on a year-on-year (YoY) basis, spends were up 34.31 per cent during this period.
A bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad had on December 15 last year reserved its verdict on the matter.
These images of deities on pillars of the structure are not found in mosques and found in temples, the counsel for the deity told SC.
The Delhi high court on Monday upheld the Centre's Agnipath scheme for recruitment in the armed forces, saying it was made in national interest and to ensure that the armed forces are better equipped.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
The counsel stated that from the pillar bases, artefacts, circular shrine, intersecting brickbat walls found in excavation, an inference can be drawn that the massive structure was a temple and not any Islamic structure.
A bench of Justices DY Chandrachud, Surya Kant, and PS Narasimha said that it is not casting any aspersion on the civil judge (senior division) who was earlier dealing with the suit.
No one can claim ownership right over the sacred place by merely putting up a structure like a mosque, a counsel for 'Ram Lalla' told the Supreme Court.
'The burden of proof is on Muslim parties to show that this finding, that the mosque was built on land held sacred by Hindus, is wrong'
Credit card issuers saw significant erosion of their card base during the July-September quarter as the Reserve Bank of India's (RBI) norms mandated deactivation of cards that have been inactive for a year. The second quarter of the current financial year saw outstanding cards-in-force decline by 2.55 million to 77.7 million. Prior to this, the industry, on an average, was witnessing a net addition of over 1.5 million credit cards a month as players became aggressive on the unsecured lending business after the pandemic.
A bench of Justices R F Nariman and B R Gavai said that it is of the prima face view that all kinds of sentiments are subservient to Article 21 of the Constitution.
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
The fate of Mohana Rao was not immediately known.
Arun Vaidyanathan is all set to produce Kalyana Samayal Sadham: The Big Fat Indian Wedding.
The Delhi high court on Thursday reserved its judgment on a batch of petitions challenging the Centre's Agnipath scheme for recruitment in armed forces.
The Delhi high court on Monday refused to stay the Centre's order dismissing Satish Chandra Verma, a senior IPS officer who had assisted the CBI in its probe in the Ishrat Jahan fake encounter case, a month before his scheduled retirement.
The Supreme Court Friday granted the 'last opportunity' to the Centre to file its reply on a public interest litigation seeking directions for framing of guidelines identifying minorities at the state level as Hindus are in a minority in 10 states and are not able to avail the benefits of schemes meant for minorities.
Deploring the fast falling trend of the reputation of the University of Madras, the Madras high court has suggested the authorities concerned to award capital punishment to the erring officials.
The top court also clarified that the general council of the AIADMK which is to take place on July 11, 2022, may proceed in the accordance with the law.
Sania and Mattek-Sands too had two opportunities to break their rivals but the American fluffed a volley from the net before left-handed Desirae served extremely well to eventually hold.
Transcript of the chat with ICICI Bank ED V Vaidyanathan.
'Shane Warne is sick. He was an incredible cricketer but his lack of sensitivity & ignorance on a lot of occasions is baffling.'
R Vaidyanathan, a professor of finance at Indian Institute of Management-Bengaluru, tells Vicky Nanjappa why the time is just not right to reveal details of the temple's treasures.
A bench of Justices D Y Chandrachud, Surya Kant, and P S Narasimha said that it is posting for October first week hearing on the appeal of Gyanvapi mosque committee's plea against the Allahabad high court order upholding the appointment of court commissioner to survey the site.
A bench headed by acting Chief Justice Vipin Sanghi, which was hearing a petition against the allegedly obnoxious posts on Maa Kali by user 'AtheistRepublic', directed Twitter to explain how it undertakes the blocking of accounts.
Jury has awarded $1.9 million to Chandramouli Vaidyanathan in a wrongful employment case
A bench of Justices D Y Chandrachud, Surya Kant, and P S Narasimha made the important observation during an hour-long hearing of the Gyanvapi mosque dispute and said that it has dealt with provisions of the Places of Worship Act in its 2019 Ayodhya verdict and section 3 does not expressly bar ascertaining of the religious character of the place of worship.
