Covid resurgence to cause short-term disruption in credit off take: HDFC Securities
Business | May 15, 2021 13:47 IST"We expect recovery in credit growth over the medium term for our coverage universe, " the report said.
"We expect recovery in credit growth over the medium term for our coverage universe, " the report said.
HDFC Ltd has reported a 31 per cent jump in consolidated net profit at Rs 5,669 crore for the last quarter of the financial year ended March 2021.
This is not for the first time that the customers of the bank have faced service outage. In fact, the bank has been penalised by the Reserve bank of India (RBI) for two major outages in the past.
The bank will reimburse vaccination cost for the two mandated doses, the lender said in a statement.
The move comes two days after similar announcements by rivals SBI and Kotak Mahindra Bank, who are now giving home loans at 6.70 per cent and 6.65 per cent, respectively.
Post the transaction, shareholding of the schemes of HDFC Mutual Fund in Just Dial stood at 5.60 per cent.
HDFC Bank on Tuesday said the Reserve Bank of India (RBI) has appointed an external IT firm for carrying out a special audit of its IT infrastructure in the aftermath of repeated service outages at the country's largest private sector lender over the past two years.
Indore police arrested a man for allegedly cheating a general store owner to the tune of Rs 1.3 lakh.
Seven of the top-10 most valued domestic firms together added Rs 75,845.46 crore in market valuation in the past week, with HDFC twins emerging as the biggest gainers. Apart from HDFC duo, Tata Consultancy Services (TCS), Infosys, Kotak Mahindra Bank, ICICI Bank and Bajaj Finance were other gainers
Equity benchmark Sensex jumped over 350 points in opening trade on Thursday, tracking gains in index majors Reliance Industries, HDFC twins and ICICI Bank amid positive cues from global markets.
HDFC, ICICI, SBI, Yes Bank, PNB, HSBC Bank, Kotak Mahindra Bank, Bank of Baroda, Deutsche Bank and IDBI are the top-10 banks of 2020.
Last week, banking sector regulator Reserve Bank of India (RBI) had asked the bank to temporarily stop all launches under its digital 2.0 initiative and stop sourcing new credit card customers.
Shares of HDFC Bank declined over 2 per cent on Thursday after the company said the Reserve Bank of India has asked it to temporarily stop all launches of its upcoming banking initiatives and issuing of new credit cards.
Puri is widely credited for building HDFC Bank from scratch and making it the largest in the private sector space and the most valuable one.
Ravi Santhanam, the Chief Marketing Officer (CMO) of HDFC Bank, has made it to the Forbes' list of 'World's Most Influential CMOs'.
After State Bank of India (SBI), HDFC Bank has stipulated a minimum outstanding balance of Rs 25,000 to consider the credit card or loan outstanding for restructuring under the scheme approved by the Reserve Bank of India (RBI).
Equity benchmark indices swung higher during early hours on Thursday following a spurt in Asian markets with banking stocks taking a lead.
In a regulatory filing on Sunday, the lender said that it approved over Rs 47,000 crore of home loans under CLSS to homebuyers belonging to the economically weaker section (EWS), low income group (LIG) and middle income groups (MIG).
HDFC Bank has reduced its marginal cost of funds-based lending rates (MCLR) by 10 basis points across all tenors with effect from Friday.
The largest mortgage lender HDFC on Thursday reported a solid set of numbers with a 15 per cent growth in consolidated net income at Rs 4,059 crore, along with better margins and asset quality among other key metrics in the pandemic ravaged June quarter.
Top News
Latest News
