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.
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.
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.
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.
In a significant ruling, District Consumer Complaints Redressal Forum has held HDFC bank responsible for unauthorised fund transfer in an internet banking transaction.
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.
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
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.
Donald D'Souza, the new head of HDFC Bank's equity capital markets business, prefers to keep himself fit by playing badminton.
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.
We will continue to grow at 25 per cent -- we can't handle more than that.
Indian equities trading activity saw a moderation in FY26, with cash market turnover declining and derivatives growth remaining subdued due to regulatory tightening and weak market performance. Further impacts are expected from new RBI norms and a hike in Securities Transaction Tax (STT).
Paresh Sukthankar, the heir apparent to Aditya Puri, prefers an approach that is in sharp contrast to Puri's.
The Indian rupee depreciated 20 paise to close at a fresh all-time low of 94.88 against the US dollar, driven by surging Brent crude oil prices, hovering around USD 115 per barrel, and persistent foreign capital outflows.
From the Sensex firms, Eternal, NTPC, Kotak Mahindra Bank, ICICI Bank, Bajaj Finserv, Power Grid, Trent and HDFC Bank were among the major laggards. However, Bharat Electronics, Larsen & Toubro, Tata Consultancy Services, ITC and State Bank of India were the gainers.
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.
A special audit by the Comptroller and Auditor General (CAG) has revealed that Odisha's forest and environment department sidestepped central guidelines, procuring and customising Mahindra Thar SUVs worth 17 crore from the State Disaster Response Fund (SDRF) for forest protection, despite the funds being earmarked for 'preparedness and capacity building'.
The BSE Sensex and the Nifty 50 declined around 4.5 per cent each since the start of the West Asia conflict.
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.
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.
HDFC Bank's track record of consistent growth with high profit margins and robust risk management systems bode well for the future.
Reserve Bank carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms
The minimum amount of recharge is Rs 10 and the maximum is Rs 250.
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.
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.
'The government's decision to keep interest rates unchanged on small savings schemes will certainly constrain banks' ability to cut deposit rates further.'
The pickup was driven partly by fresh corporate investment but more by higher working-capital demand.
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.
HDFC Bank customers will be able to do 11 transactions on their Apple device using the `watchbanking' service.
Benchmark stock indices Sensex and Nifty closed on a flat note in a choppy session on Wednesday as gains in PSU banks and auto shares were offset by losses in IT stocks.
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.
"At best, the two can be called as Indian-controlled banks," DIPP secretary R P Singh said when asked about the government's stand in the wake of the two seeking clarifications on the matter.
Also more domestic borrowers are expected to access overseas markets for their funding needs as the rupee funds are still a costly affair.
At end of week, Infosys had a market valuation of Rs 2,69,489 cr, or Rs 432.68 cr more than HDFC Bank's Rs 2,69,056 cr
The Supreme Court has sought responses from the Centre, the CBI and others on a plea filed by a 78-year-old retired banker who was duped of Rs 23 crore after allegedly being put under "digital arrest" for nearly a month.
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.
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