Investors' wealth on Monday surged Rs 4.21 lakh crore as markets bounced back after five days of fall. The BSE Sensex jumped 602.75 points or 0.76 per cent to settle at 80,005.04. During the day, it surged 1,137.52 points or 1.43 per cent to 80,539.81.
The base rate, or the minimum lending rate, of HDFC Bank will become 9.8 per cent from the existing 10 per cent, sources said.
Reserve Bank carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms
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.
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
HDFC Bank will soon open 300 more ATMs in the country and it has placed an order with leading global technology firm NCR.
HDFC Bank, which is set to overtake India's largest private sector bank ICICI in branch network by merging Centurion Bank of Punjab with itself, is now keen to expand overseas to tap the non-resident Indian market. "We have applied for licences in Bahrain and Hong Kong. We have a representative office in Dubai, while CBoP has one in Canada," HDFC Bank Managing Director Aditya Puri said.
The country's two largest private sector banks ICICI Bank and HDFC Bank on Wednesday revised interest rates on fixed deposits by up to 0.50 per cent each, a week after State Bank of India reduced term deposits rates.
From the 30-share pack, Adani Port, Bharti Airtel, Asian Paints, IndusInd Bank, Bajaj Finserv, Reliance Industries, Infosys, UltraTech Cement, HDFC Bank, HCL Technologies and ICICI Bank were among the laggards. Tata Motors, Axis Bank, Maruti, Larsen & Toubro, ITC and Tata Steel were among the gainers.
HDFC Bank has ensured that no bank will be able to match them in the near future without bleeding on margins.
HDFC Bank, the country's second largest private sector bank, has decided to follow its counterpart, ICICI Bank in increasing lending and deposit rates, in response to monetary tightening by the Reserve Bank of India.
Donald D'Souza, the new head of HDFC Bank's equity capital markets business, prefers to keep himself fit by playing badminton.
From the Sensex pack, Adani Ports & Special Economic Zones, Mahindra & Mahindra, Reliance Industries, HDFC Bank, Larsen & Toubro, NTPC, State Bank of India, UltraTech Cement and Kotak Mahindra Bank were the major gainers. In contrast, Tata Steel, Titan, Bajaj Finserv, JSW Steel, Bajaj Finance, Hindustan Unilever, ITC, Tata Motors and Tata Consultancy Services were among the laggards.
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.
The minimum amount of recharge is Rs 10 and the maximum is Rs 250.
Banks have issued Rs 7.78 trillion worth of CDs in the current calendar year until August 2024, compared to Rs 4.9 trillion in the same period of 2023, registering a 59 per cent growth
Credit card spending reached Rs 2 trillion in October, a 14.5 per cent rise from September, largely driven by festival season purchases. However, the volume of outstanding credit cards increased only marginally during the same period. The spike in spending comes at a time when nearly all major credit card issuers are calibrating their growth in the segment due to visible signs of stress.
HDFC Bank customers will be able to do 11 transactions on their Apple device using the `watchbanking' service.
ITC, State Bank of India, HCL Technologies and IndusInd Bank were the other big laggards. NTPC, UltraTech Cement, HDFC Bank and Mahindra & Mahindra were among the gainers.
All sectoral indices ended lower. BSE Telecommunication tanked 2.18 per cent, metal (1.77 per cent), auto (1.70 per cent), energy (1.64 per cent), oil & gas (1.59 per cent), commodities (1.39 per cent) and financial services (1.37 per cent) were the major laggards.
From the Sensex pack, Tata Motors, Asian Paints, HDFC Bank, JSW Steel, Hindustan Unilever, Nestle and Titan were the major laggards. In contrast, Bharti Airtel, Power Grid, NTPC, Mahindra & Mahindra, Larsen & Toubro and HCL Technologies were among the major gainers.
The bank introduces project 'Khoj' to re-hire 3,000 ex-workers over 18 months.
HDFC Bank has announced a dividend of 45 per cent or Rs 4.50 per share for the year 2004-05.
The bank has said rent payments will not earn reward points, and redemption of reward points on various cards have been capped in certain segments.
It recorded total income of Rs 54,606 crore (Rs 546.06 billion) and net profit of Rs 9,810 crore (Rs 98.10 billion) on stand-alone basis.
In a significant ruling, District Consumer Complaints Redressal Forum has held HDFC bank responsible for unauthorised fund transfer in an internet banking transaction.
RBI deputy governor, K C Chakrabarty had also said that there was no money laundering involved as alleged by the Cobrapost.
The week's losses wiped out investor wealth worth Rs 18.43 trillion, with the total market capitalisation of BSE-listed firms now at Rs 441 trillion.
HDFC Bank has launched mobile banking service on SMS for Reliance IndiaMobile customers, which will enable customers to see their account balance, get mini statements, fixed deposit details and make requests for cheque books.
The loan is completely hassle-free and transparent.
HDFC Bank's shares fell by 3.46 per cent to close the day at Rs 659 on the BSE. In intra-day session, the scrip lost 4 per cent to Rs 655.10.
Also more domestic borrowers are expected to access overseas markets for their funding needs as the rupee funds are still a costly affair.
From the 30 Sensex firms, Mahindra & Mahindra, Bajaj Finance, Asian Paints, Nestle, Bharti Airtel, UltraTech Cement, Hindustan Unilever, ITC, and HDFC Bank were the major laggards. In contrast, Infosys, Tech Mahindra, Tata Motors, Axis Bank, Tata Consultancy Services and State Bank of India were among the gainers.
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.
State Bank of India has entered into an alliance with HDFC Bank for sharing ATM networks to be operationalised from February 3 this year.
The Indian financial and payments systems remained largely unaffected by the Microsoft services outage, though about 10 banks and NBFCs faced minor disruptions which have either been resolved or are being fixed.
Among the 30 Sensex firms, Bajaj Finance, Infosys, Adani Ports, JSW Steel, HCL Tech, Bharti Airtel, IndusInd Bank and Tata Motors were the biggest laggards. ICICI Bank, Bajaj Finserv, Titan, Nestle and HDFC Bank were among the gainers.
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