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Zomato, HDFC Pension launch NPS model for delivery partners' benefit

Zomato and HDFC Pension have collaborated to introduce 'NPS Platform Workers Model' for delivery partners of the food delivery platform, in a bid to provide them access to formal retirement benefits. The model was formally launched by Finance Minister Nirmala Sitharaman at an event organised by the Pension Fund Regulatory and Development Authority (PFRDA) on October 1. "More than 30,000 delivery partners onboarded on Zomato have already generated their PRANs (Permanent Retirement Account Numbers) within 72 hours of this integration and the platform is committed to enable over 1 lakh delivery partners with their NPS retirement accounts within 2025," Zomato said in a statement. Zomato operates on a gig-first model, supporting an average of 5,09,000 independent monthly active delivery partners as of Q1 FY26. According to a NITI Aayog report, the number of platform workers in India is estimated to grow to 23.5 million by FY 2029-30. Currently, there exists a gap in terms of awareness a

HDFC Bank's Parag Rao superannuates, Ashish Parthasarthy to take over

Parthasarthy currently heads Branch Banking, Infrastructure, Treasury, and Virtual Channels divisions at HDFC Bank

HDFC-backed Reloy eyes 75% revenue growth in FY26 on better housing sales

HDFC Capital-backed proptech startup Reloy, which helps builders generate referral sales, expects 75 per cent growth in its revenue this fiscal to Rs 50 crore on strong demand for housing properties. The company posted a 60 per cent jump in gross revenue to Rs 28.5 crore in 2024-25 from Rs 17.8 crore in the preceding financial year. "We are expecting to clock a Rs 45-50 crore revenue in the current fiscal," Reloy founder and CEO Akhil Saraf told PTI. Reloy manages customers and property brokers on behalf of its builder clients through dedicated mobile applications, and it gets a nominal commission on referral sales. Saraf said the company's performance in the first six months of this fiscal year has been very strong. Reloy is targeting to facilitate Rs 3,500 crore worth of sales in the current fiscal compared to Rs 2,000 crore through referral-led sales in the last fiscal, Saraf said, highlighting that referral sales in the first six months of this fiscal have already surpassed th

HDFC Bank's Dubai unit faces DFSA curbs, barred from onboarding new clients

The bank's Dubai branch has been barred by Dubai authorities from taking on new clients or offering financial advice due to onboarding issues, though existing customers will not be affected

HDFC Bank emerges as top choice for global EM funds with record ownership

Copley Fund Research finds HDFC Bank held by 71% of EM funds, making it the most critical emerging-market bank globally, with allocations surging post-HDFC merger

Mcap of 5 top valued firms climbs ₹60,675.94 cr; SBI, HDFC biggest winners

The combined market valuation of five of the top-10 most valued firms increased by Rs 60,675.94 crore last week, with State Bank of India and HDFC Bank emerging as the lead gainers in line with a positive trend in equities. In a holiday-shortened last week, Sensex climbed 739.87 points or 0.92 per cent, and the Nifty edged higher by 268 points or 1.10 per cent. From the top-10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, State Bank of India and Infosys saw an addition in their valuation, while Tata Consultancy Services (TCS), ICICI Bank, Hindustan Unilever Ltd, Life Insurance Corporation of India (LIC) and Bajaj Finance faced erosion from their market capitalisation (mcap). The valuation of State Bank of India jumped Rs 20,445.82 crore to Rs 7,63,095.16 crore, the most among the top-10 firms. The mcap of HDFC Bank surged Rs 14,083.51 crore to Rs 15,28,387.09 crore. Infosys added Rs 9,887.17 crore, taking its valuation to Rs 6,01,310.19 crore. The mcap of Bharti Airtel surg

Sebi fines HUF ₹10 lakh for 'insider trading' in HDFC merger shares

Capital markets regulator Sebi on Tuesday levied a fine of Rs 10 lakh on an entity for trading in the shares of HDFC Ltd and HDFC Bank while in possession of unpublished price sensitive information (UPSI) related to their merger. Sebi found that Rupesh Satish Dalal HUF had traded in derivatives of both HDFC entities on April 1, 2022 -- just days before the official announcement of the merger between HDFC Ltd and HDFC Bank on April 4, 2022. Rupesh Satish Dalal is the karta of Rupesh Satish Dalal HUF. The regulator's probe revealed that Dalal had received UPSI through his son, who was in close and regular contact with a person (individual) who was an insider associated with Deloitte. Deloitte Touche Tohmatsu India LLP was engaged as the valuer for the merger exercise and the individual was part of the valuation team from March 29, 2022. The individual and Dalal's son were long-time friends and exchanged several calls in the run-up to the trades. Sebi also noted that a meeting betwee

Plan to expand thoughtfully: HDFC Life Insurance chairman Keki Mistry

HDFC Life aims for growth and tech transformation in FY26, with a focus on macroeconomic opportunities, despite geopolitical and trade challenges, says Keki Mistry

SC dismisses HDFC Bank CEO's plea challenging FIR by Lilavati Trust

The Supreme Court on Friday refused to entertain a plea by HDFC Bank CEO and MD Sashidhar Jagdishan challenging an FIR of cheating and fraud registered against him on a complaint by the Lilavati Kirtilal Mehta Medical Trust, which runs the prominent Lilavati Hospital in Mumbai. A bench of Justices P S Narasimha and R Mahadevan noted that the matter was already listed for hearing on July 14 before the Bombay High Court. "We are not inclined to entertain the matter. We will not apply our mind to the merits. If matter is not heard on 14th, you come back. "We hope and trust that high court will take the matter up on the designated date," the bench said. Senior advocate Mukul Rohatgi, appearing for Jagdishan, submitted that the bank has been roped in a private dispute. "The idea is to summon the MD to police station. No proceedings should be taken against the MD," he said. Rohatgi said they had moved the Bombay High Court but three benches of the high court have so far recused themsel

Indian shares dip as financials drag; HDB Financial surges 13.6% on debut

HDB Financial Services debuted at a premium of about 13 per cent to its issue price and closed its maiden session 13.6 per cent higher

Will continue supporting HDB Financial post-IPO as well: HDFC Bank CEO

HDFC Bank's Managing Director and CEO Sashidhar Jagdishan on Wednesday said the lender will continue supporting its subsidiary HDB Financial Services post-listing as well. Terming the Rs 12,500-crore initial public offering a "complex" transaction, Jagdishan said this is a "historic" day for the HDFC Bank-promoted non banking finance company (NBFC). HDB shares got listed on bourses on Wednesday. Speaking before the listing, Jagdishan said the IPO will provide "independent capital and visibility" for the company to accelerate its growth trajectory. "We will continue to support HDB as it navigates the opportunities and challenges of the public market," Jagdishan said. He added that HDB is well positioned to capitalise on the opportunity by the underserved credit segments in the country which provide a "large runway", and added that the company has "strong fundamentals" for doing so. HDFC Bank, the largest by assets in the private space, has nurtured the NBFC over the years, the CEO

HDFC MF buys ₹137 crore stake in Sundram Fasteners via open market deal

HDFC Mutual Fund on Friday bought shares of auto components supplier Sundram Fasteners for Rs 137 crore through an open market transaction. According to the bulk deal data on the BSE, HDFC Mutual Fund purchased 13.70 lakh shares or 0.65 per cent stake in Sundram Fasteners, at an average price of Rs 1,000 apiece. This took the deal value to Rs 137.02 crore. After the stake buy, HDFC Mutual Fund's holding in Chennai-based Sundaram Fasteners rose to 5.02 per cent from 4.37 per cent. Details of the sellers of Sundaram Fasteners shares could not be ascertained on the exchange. Shares of Sundaram Fasteners went marginally lower to close at Rs 999.25 per piece on the BSE. In a separate bulk deal on the NSE, Singapore-based Cube Mobility Investments offloaded 79.25 lakh units or 0.59 per cent unitholding in Cube Highways Trust for Rs 101 crore through an open market transaction. As per the data, these units were disposed of at an average price of Rs 127.50 per unit, taking the deal valu

Adani fastest-growing Indian brand in 2025; value up by 82%: Report

Adani Group has been named the fastest-growing Indian brand, thanks to its aggressive and integrated approach to infrastructure, as per the Most Valuable Indian Brands 2025 report by Brand Finance

HDFC credit card users alert: New fees, reward caps introduced from July 1

From wallet loads to gaming spends, HDFC credit cardholders will face new charges and reward point limits starting July 1. Here's what changes and how it may impact your monthly usage.

Chanda Kochhar once proposed HDFC-ICICI merger, reveals Deepak Parekh

Before the HDFC-HDFC Bank merger, Chanda Kochhar had pitched an ICICI-HDFC merger, says Deepak Parekh in a rare public disclosure

Lilavati trust alleges HDFC Bank CEO of fraud: What’s happening?

India’s largest private lender, HDFC Bank, and one of Mumbai’s prestigious private hospitals, Lilavati, have locked horns in a high-profile legal and financial battle.

HDFC mid-cap opportunities fund: Forging midcap steel into portfolio armour

Fund anneals quality names into resilient wealth defenders

Mcap of 10 top valued firms jumps ₹3.84 trn; HDFC, Airtel biggest gainers

The combined market valuation of the top-ten most valued firms jumped by a whopping Rs 3,84,004.73 crore in the holiday-shortened last week, in-tandem with a smart rally in equities, with HDFC Bank and Bharti Airtel emerging as the biggest gainers. Last week, the BSE benchmark Sensex jumped 3,395.94 points or 4.51 per cent, and the NSE Nifty surged 1,023.1 points or 4.48 per cent. Markets witnessed a robust recovery and surged over 4.5 per cent in the holiday-shortened week, driven by favorable cues from both domestic and global fronts, Ajit Mishra SVP, Research, Religare Broking Ltd, said. "The rally was primarily fueled by optimism surrounding the deferral of tariffs and recent exemptions on select products, raising hopes for potential negotiations that could mitigate the impact on global trade. "As the week progressed, market participants responded positively to a slew of favorable developments, including updates on a normal monsoon, easing retail inflation -- which raised hope

Diversified portfolio, market share to drive asset growth for HDFC AMC

Industry SIP flows of Rs 78,330 crore in Q4FY25 contributed to active equity and hybrid inflows of Rs 1.042 trillion

Mcap of 8 top valued firms climbs ₹88,085.8 cr; HDFC Bank biggest gainer

The combined market valuation of eight of the top-10 most-valued firms climbed Rs 88,085.89 crore last week, with HDFC Bank leading the pack of gainers, in line with an optimistic trend in equities. Last week, the BSE benchmark gauge climbed 509.41 points, or 0.66 per cent. From the top-10 pack, HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Hindustan Unilever, and ITC were the gainers, while Reliance Industries and Infosys faced erosion from their market valuation. HDFC Bank added Rs 44,933.62 crore, taking its valuation to Rs 13,99,208.73 crore. The market capitalisation (mcap) of State Bank of India jumped Rs 16,599.79 crore to Rs 6,88,623.68 crore. The valuation of TCS rallied Rs 9,063.31 crore to Rs 13,04,121.56 crore while that of ICICI Bank was up Rs 5,140.15 crore to Rs 9,52,768.61 crore. The mcap of ITC soared Rs 5,032.59 crore to Rs 5,12,828.63 crore and that of Hindustan Unilever climbed Rs 2,796.01 crore to R