Page 56 - Hdfc Bank

RBI ban on new credit cards sale hit market share, says HDFC Bank

The bank promised to get back to the market "with a bang" once the "temporal" embargo is lifted

HDFC Bank acquires 7.4% stake in product engineering firm Virtuoso Infotech

Virtuoso Infotech Pvt. Ltd., an enterprise software solutions company, founded by Preeti Nahar and Yogesh Satpute, based out of Pune, India announced today the news of its first investment fundraise.India's largest private sector bank HDFC and its subsidiary HDFC Securities Limited has acquired a 7.4 per cent stake in Virtuoso Infotech.Virtuoso Infotech specializes in product engineering and offers customized software solutions for enterprises across a wide range of sectors. The list includes software solutions for Hospitality, Finance, Media, Religious Institutions, Communities, Cloud Computing, Food & Travel industries, using Data Analytics and Machine Learning.This relationship will strengthen, company's vision to become a reliable software technology partner for Indian Enterprises and bank's objective to digitize under-served and under-penetrated segments using digital solutions."We thank HDFC Bank for their confidence and trust in Virtuoso's tech capabilities," says Preeti .

Meet HDFC Bank's Sashidhar Jagdishan, a CEO courageous enough to be upfront

Jagdishan took over from his larger-than-life mentor Aditya Puri

Top headlines: Suraksha gets Jaypee Infra; US births see biggest decline

Business Standard brings you top news of the evening

Stocks to watch: Hero Moto, NMDC, HDFC Bank, Centrum Capital, VIL, CDSL

Two-wheeler maker Hero MotoCorp will hike its vehicle prices by up to Rs 3,000 from July to partially offset the impact of the higher commodity prices

HDFC Bank, HDFC Securities to pick up stake in Borderless Softtech

HDFC Bank alongwith its subsidiary HDFC Securities will pick up stake worth Rs 6.9 crore in backend software infrastructure development company Borderless Softtech, the bank said on Tuesday. For this, the bank said it has executed an agreement for subscribing 8,108 compulsory convertible cumulative preference shares (CCCPS) of face value of Rs 10 each of Borderless at a premium of Rs 606.60 directly for consideration of Rs 616.60 per piece. Indirectly, its subsidiary HDFC Securities will acquire 1,03,989 optionally redeemable compulsory convertible cumulative preference shares (ORCCCPS) of Borderless at the same valuation. The acquisition will happen at a cash consideration of Rs 49,99,392 by HDFC Bank and Rs 6,41,19,617 by HDFC Securities. Borderless facilitates global fractional investing in US listed stocks, funds and ETFs (exchange traded funds). "Post investment, bank will hold in aggregate 7.76 per cent of the shareholding of Borderless on a fully diluted basis, directly and

Stocks to watch: RIL, PNB Housing, Centrum Capital, HDFC Bank, ICICI Bank

S&P Global Ratings on Friday said it has revised the rating outlook on ICICI Bank Ltd to stable from negative

HDFC Bank to buy 4.99% stake in HDFC ERGO for Rs 1,906 crore

The bank has been a distribution partner of the insurer since 2009.

HDFC Bank board declares dividend of Rs 6.50 per share for FY21

HDFC Bank on Friday said its board has declared a dividend of Rs 6.50 per share for the year ended March 2021. "A dividend of Rs 6.50 per equity share ( 650 per cent on face value of Re 1) out of the net profits for the year ended March 31, 2021, has been recommended, subject to the approval of the shareholders of the bank at its ensuing Annual General Meeting (AGM)," HDFC Bank said in a regulatory filing. If approved at the AGM, the expected date for payment of dividend in electronic form and for dispatch of physical dividend warrants would be August 2, 2021 onwards, it added. The AGM of the bank is scheduled for July 17, 2021 through video conferencing and other audio visual means. Besides, the board approved revising the re-appointment of Umesh Chandra Sarangi as an independent director from March 1, 2021 till February 29, 2024. Earlier, the board had okayed his tenure from March 2021 till February 5, 2022. Also, the board sought to appoint M M Nissim & Co LLP, chartered ...

HDFC Bank to invest big on tech infra revamp after spate of outages

Lender is bringing new talent, getting into cloud-native stacks, shifting from traditional monolithic IT systems, and working with strategic partners for better products and services

HDFC Bank says working with RBI for restarting banned services

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

HDFC Bank to refund GPS device commissions to auto loan customers

In a public notice, the bank said, the refund will be credited to the customer's repayment account as registered with the bank

HDFC Bank draws up groundwork to regain credit card market share

Will come back with a bang once RBI lifts freeze, says bank

HDFC Bank's mobile banking app faces outage; issue resolved in an hour

In the past too, the lender, on multiple occasions, has faced outages with regards to mobile banking, internet banking, and other platforms

HDFC Bank says 'issues around mobile banking app' have been resolved

"Customers can now use NetBanking and mobile banking app for transactions. We regret the inconvenience and thank you for your patience," HDFC Bank tweeted.

Good show by banks but can they sustain it?

Till March, banks could hold on but not all of them will be in a position to stomach the impact of the second wave of the pandemic

Sensex, Nifty end marginally lower; HDFC twins, Reliance Industries weigh

The 30-share BSE Sensex slipped 52.94 points or 0.10 per cent to 52,275.57. The broader NSE Nifty declined 11.55 points or 0.07 per cent to 15,740.10

Value of India's top 100 brands up 2% in 2021; Tata Group most valuable

Among the brands that came on the top of the list include Tata Group, Reliance Industries, and Mahindra Group

The road ahead for State Bank of India

The elephant in Indian banking has already become nimble-footed. Its new boss, Dinesh Khara, needs to choreograph the steps for its dance

HDFC Bank asks customers to ignore communication on crypto transactions

This communication from the bank comes after the RBI on Monday clarified that banks can no longer cite its circular on cryptocurrencies for not offering such products to customers