After the loan rate hike, the overnight MCLR has gone up to 9.15% from 9.10%, while the one-month MCLR has moved up to 9.20% from 9.15%. Moreover, the three-year MCLR, on the other hand, has increased to 9.50% from 9.45%.
HDFC Bank UPI service: UPI has not only eliminated the need to carry cash but has also made transactions much easier and safer. However, this month, UPI will be unavailable in HDFC bank for two days, preventing people from using this service.
Key sectors, including IT, banking, and energy, contributed to the market’s upward trend. Major stocks like Infosys, Reliance Industries, and HDFC Bank were among the top gainers.
If you are looking forward to booking the new iPhone 16, then here is the offer from HDFC that you must know. It was recently explored that the new iPhone 16 and iPhone 16 Plus could be bought at a relatively big price cut by using the HDFC Infinia Card.
The iPhone 16 is scheduled to be released on September 9. Ahead of the launch, Apple has surprised those planning to buy a new iPhone at an affordable price.
The benchmark indices opened slightly lower on Tuesday. The BSE Sensex was down 42 points, trading at 79,607, while the NSE Nifty50 dropped 10 points to 24,337 in early trading. The market sentiment was dampened by a 2% fall in HDFC Bank shares, contributing to the overall decline.
HDFC Bank has scheduled a system upgrade on Saturday, July 13, 2024, from 3:00 AM to 4:30 PM to enhance performance, capacity, and reliability. During these 13.5 hours, certain banking services will be temporarily limited. Customers should plan accordingly to avoid disruptions.
The Sensex and Nifty rebounded dramatically on Monday, spurred by buying in HDFC Bank, ICICI Bank, and Tata Consultancy Services. The BSE Sensex closed higher by 111.66 points, or 0.15%, at 72,776.13 after hitting a low of 71,866.01 during the day.
The bank's American Depository Receipts fell over 15 per cent in the last two days, resulting in a more than 10 per cent slump in the domestic HDFC Bank stock.
Banking shares faced significant selling pressure as all 12 Nifty Bank index constituents traded with cuts. The selling activity was triggered by negative commentary on HDFC Bank's below-par third quarter figures, impacting sentiment across the sector.
HDFC Bank reported a net profit of Rs 16,372 crore compared to Rs 15,976 crore in the quarter-ago period on a standalone basis.
The total income on a standalone basis for the bank stood at Rs 81,720 crore in the third quarter of FY24, compared to Rs 51,208 crore in the same period of the previous year.
The net premium income for HDFC Life Insurance rose by 6 per cent to Rs 15,273 crore in the quarter, while the value of new businesses declined by 2 per cent.
The 30-share BSE Sensex registered a decline of 241.79 points or 0.36%, settling at 67,596.84 after a day of volatile trading.
Effective July 1, the parent mortgage firm HDFC Ltd merged with its subsidiary HDFC Bank making it the second biggest lender after State Bank of India.
The upcoming merger will also not affect customers availing fixed deposits (FDs) and customers will not have to pay interests after their FD matures. Furthermore, customers can also avail the facility to withdraw money after their FDs reach maturity.
Stating that the input tax credit (ITC) case is an industry-wide issue, HDFC Life said the company will be taking appropriate steps in due course to reply to the show cause notice and contest the matter.
HDFC Defence Fund: HDFC Asset Management Company Ltd announced the launch of the country's first mutual fund focussed on defence sector.
HDFC bank Q2 net jump: On a standalone basis, the largest private sector lender's net profit rose by over 20.1 per cent to Rs 10,605.78 crore as against Rs 8,834.31 crore in the year-ago period and Rs 9,196 crore in the preceding June quarter.
HDFC hikes lending rate: This is the fifth hike effected by HDFC in two months. In all, the rate has increased by 115 basis points since May this year.
Top News
Latest News
