The uncertain macroeconomic environment may have prompted HDFC Bank to go slow on expanding its credit card portfolio.
The US' move to raise the tariff on most Indian goods to 50 per cent could drag India's GDP growth for FY26 by 35 to 60 basis points, according to various economists. One basis point (bp) is equal to 0.01 per cent.
The proposed reforms in goods and services tax (GST) announced by the government last week, coupled with the eighth pay commission dole-out, is likely to push consumption-driven stocks - such as air conditioners (ACs), select automobiles, fast-moving consumer goods (FMCG), retail, and counters of quick-service restaurants (QSRs) - into higher orbit over the next few months, believe analysts.
The Delhi Police Cyber Cell has arrested 12 people, including three HDFC Bank employees, for allegedly trying to withdraw money from the account of an NRI, officials said on Tuesday.
Eight months after barring the country's largest private sector lender HDFC Bank from selling new credit cards, the Reserve Bank of India (RBI) has lifted the ban, banking sources said on Tuesday. However, the ban on launching new technology initiatives remains, the sources said. In December last year, the RBI had come out with an unprecedented
Private sector lender HDFC Bank on Thursday said the Reserve Bank of India (RBI) has asked it temporarily stop all launches of its upcoming digital business-generating activities and sourcing of new credit card customers after outage at its data centre which impacted operations last month.
Titan, HCL Tech and State Bank of India were also among the laggards. However, Hindustan Unilever, Asian Paints, ICICI Bank, Power Grid, HDFC Bank and ITC were the gainers.
With slippages increasing every quarter, any derailment on growth or change in customers' repayment behaviour after moratorium may impact the overall asset quality. Correction, though, presents attractive buying opportunities, given the bank's sustained leadership position.
From the Sensex pack, HCL Tech, Infosys, Tech Mahindra, Reliance Industries, Bajaj Finserv, ICICI Bank, Tata Motors and Eternal were the lead gainers. Power Grid, Adani Ports, IndusInd Bank, Nestle, HDFC Bank and Hindustan Unilever were among the laggards.
The more things change, the more they remain the same for corporate India. In the April-June 2025 period (Q1FY26) - for the ninth consecutive quarter - listed companies witnessed only single-digit revenue growth, while their core earnings, excluding other income and one-time gains, contracted for the second time in four quarters. This comes as firms brace for the impact of 50 per cent US tariff on Indian goods.
The bank has decided to embark on a 'Technology Transformation agenda' to provide its customers smoother, faster, and better banking experience.
A media report in the run up to the board meet had mentioned the names of Sashidhar Jagdishan, Kaizad Bharucha and Sunil Garg as the ones who had made the cut. Jagdishan and Bharucha are internal candidates, while Garg is working with American banking major Citigroup.
GST 2.0 may cushion consumers against US tariffs, but like the 2019 corporate tax cut, it risks being another tactical fix rather than a structural growth strategy, expects Debashis Basu.
Key benchmark indices Sensex and Nifty declined for the third session in a row on Friday, dropping nearly 1 per cent, dragged by heavy selling in IT, auto and energy stocks. Tariff-related uncertainties amid mixed global market trends also added to the pressure, analysts said. The 30-share BSE Sensex tanked 689.81 points or 0.83 per cent to settle at 82,500.47.
Maruti, Axis Bank, HDFC, ICICI Bank and Bajaj Finance also finished with gains. NSE Nifty rallied 203.65 points to 11,095.25.
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.
The HDFC bank has bagged the annual Country Awards for Achievement from India conferred by Hong Kong-based publication Finance Asia.
Its debit card holders can now withdraw cash from any ATM without charges till June 30.
Last fortnight, State Bank of India Chairman C S Setty lifted the veil on a subject long spoken of in corporate corridors: Why can't our banks finance mergers and acquisitions (M&As)? Change is in the air: Indian Banks' Association (of which Setty is the chairman) is to "make a formal request" to Mint Road to make way for it. Thus far the exclusive turf of foreign banks even though its funding remains offshore - as in, it's not on these entities rupee-book (and a few select shadow banks) - a most lucrative segment in the investment banking suite, M&As, will be homeward-bound.
Indian equity benchmarks rose nearly 2 per cent on Thursday, capping a truncated trading week with their strongest weekly performance in over four years. The rally was sparked by renewed risk-on sentiment following progress in trade negotiations and expanded tariff exemptions.
Close to 9,000 start-ups are currently banking with HDFC Bank and it has the bank now dedicated SmartUp zones in 70 branches in 30 cities across India.
Among Sensex firms, Tech Mahindra, HCL Tech, Asian Paints, NTPC, Infosys, Nestle, Sun Pharma, and Tata Steel were the major laggards. Eternal, State Bank of India, HDFC Bank, Larsen & Toubro, Reliance Industries and Bajaj Finserv were the gainers.
HDFC Bank on Friday announced a marketing alliance with American Express enabling the former to offer American Express Travellers cheques to consumers at over 160 of its branches across 70 cities.
Sensex sinks 573 pts on global tensions and high crude prices
With rising credit demand, cleaner balance sheets, and renewed investor confidence, banks are positioned at the forefront of the market rally. From major players like ICICI and HDFC to broader policy shifts, there's much driving this momentum.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
With rising credit demand, cleaner balance sheets, and renewed investor confidence, banks are positioned at the forefront of the market rally. From major players like ICICI and HDFC to broader policy shifts, there's much driving this momentum.
With rising credit demand, cleaner balance sheets, and renewed investor confidence, banks are positioned at the forefront of the market rally. From major players like ICICI and HDFC to broader policy shifts, there's much driving this momentum.
The law firm had specifically named the bank's chief executive and managing director of over 25 years, Aditya Puri, his designated successor Sashidhar Jagdishan and company secretary Santosh Haldankar as defendants.
Jagdishan, currently working as the 'change agent' of HDFC Bank and head of finance, has been with the bank since 1996.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
From the Sensex pack, HDFC Bank, Maruti, Tech Mahindra, HCL Tech, ITC, ICICI Bank, Kotak Mahindra Bank and Bajaj Finance were among the biggest laggards. NTPC, Adani Ports, Mahindra & Mahindra, Tata Steel and IndusInd Bank were among the gainers.
From the Sensex pack, ITC, Hindustan Unilever, Mahindra & Mahindra, HDFC Bank, Eternal, Kotak Mahindra Bank, State Bank of India and ICICI Bank were the major gainers. IndusInd Bank, Power Grid, Bharti Airtel, Infosys, and Bajaj Finserv were among the laggards.
Early-bird results for the January-March 2025 quarter (Q4FY25) suggest a slowdown in earning growth for India Inc, despite a benign cost environment that has led to an improvement in margins. The combined net profit (adjusted for exceptional gains and losses) of 175 early-reporting companies rose by 3.8 per cent year-on-year (Y-o-Y) in Q4FY25, marking the slowest growth in 17 quarters.
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 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.
The amounts were transferred from HDFC Bank to BoB.
Singapore's state investor Temasek Holdings, which recently picked up 10 per cent stake in Haldiram, has been consistently expanding its footprint in India while slowly withdrawing from China over the last three years amid growing geopolitical risks and economic headwinds. India has become Temasek's third-largest market, after Singapore (27 per cent) and China (18 per cent), with its exposure to the country higher than the rest of Asia Pacific excluding the three (11 per cent), according to Temasek's annual review.
Among Sensex firms, Bajaj Finserv, Tata Steel, Sun Pharma, Tech Mahindra, Bajaj Finance, NTPC, Nestle, Tata Motors, Hindustan Unilever and Mahindra & Mahindra were the biggest gainers. IndusInd Bank, Kotak Mahindra Bank, Power Grid and ITC were among the laggards.
State Bank of India, HDFC Bank and ICICI Bank have again been named as Domestic Systemically Important Banks (D-SIBs) by the Reserve Bank of India. The Reserve Bank on Wednesday came out with the list of D-SIBs.
