HDFC and HDFC Bank merger proposal gets RBI nod
Business | July 05, 2022 10:22 ISTThe merger proposal of HDFC and HDFC Bank remains subject to various statutory and regulatory approvals.
The merger proposal of HDFC and HDFC Bank remains subject to various statutory and regulatory approvals.
The merger of HDFC and HDFC Bank is expected to be completed by the second or third quarter of FY24.
POCO F4 5G is available with a YouTube Premium subscription for two months, as a part of the first sale. Also, customers will further get a year of free subscription to Disney+ Hotstar VIP Pack.
HDFC Bank increased its Marginal Cost of funding based on the Lending Rate by 0.35 per cent from June 7, as per the new rate structure published on its website.
The upward revision in interest rates by HDFC, PNB and ICICI Bank follow an off-cycle rate increase by the Reserve Bank in May.
On the merger and acquisition front, there were 45 deals worth USD 42.73 billion, which was a 676 per cent jump in the activity by values.
The move comes just days after several lenders, including ICICI Bank, Bank of Baroda and Bank of India, raised interest rates following the Reserve Bank of India's surprise repo rate hike on Wednesday.
HDFC Dividend: HDFC will pay Rs 30 dividend per equity share to its shareholders.
HDFC said that the Retail Prime Lending Rate on housing loans will become costlier by 5 basis points. The hike will be effective from May 1.
The HDFC-HDFC Bank merger is expected to be completed by the second or third quarter of FY24.
Digital 2.0 programme of the bank is designed to provide products to its customers for frictionless financial experience. It will help customers to move from a single transaction to a complete financial solution journey such as loan disbursement, payments and investment.
HDFC Bank, in its complaint, alleged that in all 66 attempts were made to access the internet banking of the account.
Total consolidated income during the quarter under review rose to Rs 41,436.36 crore from Rs 38,438.47 crore in July-September 2020, HDFC Bank said in a statement.
In August, HDFC had invoked 46,20,000 shares of Ansal Housing Limited (Ansal) aggregating 7.78 per cent of the paid-up share capital, for recovery of part outstanding dues against loans availed by pledgers/borrowers.
HDFC Q1 Result 2021 Today: HDFC has reported 31 per cent increase in its consolidated net profit in the first quarter.
Equity benchmark Sensex tanked 587 points on Monday, tracking heavy losses in HDFC twins, Reliance Industries, and Axis Bank amid a weak trend in global markets.
HDFC Bank on Friday said its board has declared a dividend of Rs 6.50 per share for the year ended March 2021.
Customers of HDFC Bank have been facing issues with the bank's mobile banking application during the day.
Customers can conduct over 15 types of transactions using the Mobile ATMs, which will be operational at each location for a specific period. The Mobile ATMs will cover 3-4 stops in a day.
The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Act, the apex bank said.
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