Page 29 - Hdfc Bank

Smoother global trade: India to pitch an alternative to Swift at G20 meet

SWIFT allows global financial institutions to communicate with each other using a messaging network that is quick, accurate, and secure

Multi-service platform ONDC beating Swiggy, Zomato: All you need to know

ONDC intends to bring the benefits of digitisation to millions of sellers and resellers in the country

HDFC twins sink as Street fears MSCI blow may trigger $200 mn outflow

Shares of HDFC and HDFC Bank dropped up to 6 per cent. The Street had expected inflows worth $3 billion by foreign portfolio investors

HDFC Bank plans 675 branches in semi-urban, rural areas in 14 months

As of March 31, the bank had 52 per cent of its 7,821 branches in semi-urban and rural locations

HDFC Bank aims to double semi-urban, rural biz in four years, says official

HDFC Bank is targeting to double its semi-urban and rural (SURU) business in the next three to four years, a senior official said on Thursday. The country's largest private sector lender, however, did not share the present size of the SURU business on both assets and deposits front. The bank said already 52 per cent of its overall 7,821 branches are in SURU locations, and it will be adding another 675 branches over the next 12-14 months to take the SURU branches close to 5,000. Its country head for retail branch banking Arvind Vohra told reporters that SURU locations support over 70 per cent of the population, and the bank feels that it presents a big business opportunity. Vohra said the bank will be increasing its business in the SURU locations by expanding reach and also introducing stronger product propositions in the market, which are tailor-made keeping in mind the needs of the local population. The bank is also examining the possibility of adopting different loan underwritin

HDFC Bank to roll out e-distribution network, cover 50K more villages

There are 40-45 banking services like account opening, fixed deposits, loans that could be offered through the digital platform

Private sector banks likely to continue their hiring spree in FY24

ICICI, HDFC Bank added over 50,000 employees in FY23

S&P affirms HDFC Bank's long-term issuer credit rating at 'BBB-'

The bank's strong management and governance structure should help in the planned merger of mortgage lender Housing Development Finance Corporation Ltd (HDFC) with itself

After a decade in wilderness, Indian banks healthy, but still not cautious

With the incremental credit-to-deposit ratio running at 111%, Indian banks will have to pay more to savers - sacrificing some part of their high profitability

Bourses approves transfer of NCDs from HDFC Ltd to Bank as part of merger

HDFC Ltd on Wednesday said both stock exchanges BSE and NSE have approved the transfer of NCDs from the mortgage firm to HDFC Bank as part of the amalgamation process. BSE and NSE vide their letters dated April 26, 2023, granted their in-principle approval for the transfer of additional NCDs (non-convertible debentures) issued by HDFC Limited post receipt of the earlier approval on December 13, 2022, to HDFC Bank, the mortgage firm said in a regulatory filing. The proposed amalgamation is subject to receipt of final approvals from the Securities and Exchange Board of India (Sebi) in respect of change in control of certain subsidiaries of HDFC Limited, it added. This approval will help pave the way for the merger of HDFC into HDFC Bank, expected to be finalised by the third quarter of this financial year. Termed as the biggest transaction in India's corporate history, HDFC Bank on April 4 last year agreed to take over the biggest domestic mortgage lender in a deal valued at about US

HDFC-HDFC Bank merger may pave way for Adani Enterprises' Sensex inclusion

LTIMindtree may get added to Nifty; merged HDFC Bank may see $4.9 bn inflows from passive tracker

HDFC Bank to buy stake in Griha, gets Singapore regulatory body's approval

The proposed agreement is subject to approval from the market regulator Sebi

Favourable terms

Lower cost of funds will help HDFC Bank after merger

In the run-up to merger: HDFC Bank gets RBI relief on PSL norms

Allows to raise stake in insurance JVs; No exemption on CRR/SLR

Sebi approves transfer of controlling stake of HDFC AMC to HDFC Bank

HDFC Ltd on Friday said market regulator Securities and Exchange Board of India (Sebi) has approved the proposed change of controlling stake in HDFC AMC to HDFC Bank as part of the scheme of amalgamation. Sebi through its letter dated April 21, 2023, to HDFC Asset Management Company Limited (HDFC AMC), a subsidiary of HDFC Limited and the asset management company of HDFC Mutual Fund (HDFC MF), has granted its approval for the proposed change in control of HDFC AMC, HDFC Ltd said in a regulatory filing. The regulator has also advised HDFC AMC to ensure compliance with all other provisions of Sebi (Mutual Funds) Regulations, 1996, and circulars, it added. This approval will help pave the way for the merger of HDFC into HDFC Bank, expected to be finalised by the third quarter of the next financial year. Termed as the biggest transaction in India's corporate history, HDFC Bank on April 4 last year agreed to take over the biggest domestic mortgage lender in a deal valued at about USD 40

RBI approves appointment of Kaizad Bharucha as deputy MD of HDFC Bank

Central bank also approves Bhavesh Zaveri's appointment as private lender's executive director

HDFC Bank set to meet reserve ratio requirements post merger: Report

The $40 billion merger, announced last April, is expected to conclude by July, HDFC Bank's Chief Financial Officer Srinivasan Vaidyanathan told analysts at a conference call on Saturday

HDFC Bank stock's re-rating still some time away, say analysts

HDFC Bank shares: Analysts believe a re-rating in the stock would happen as and when more clarity emerges on the smooth merger with HDFC Ltd

Sensex snaps 9-day rally, sinks 520 pts; Infy cracks 9%; banks limit losses

CLOSING BELL: The BSE IT index plunged 4.7 per cent, while the FMCG and Bankex gained 1 per cent and 0.3 per cent, respectively. Midcap and SmaIlcap indices too outperformed in trades on Monday.

HDFC Bank recommends 1900% dividend from net profits of FY23

The dividend benefit was taken during the meeting held on Saturday during which HDFC Bank also fixed a record date for the said dividend