Monday, August 5, 2019, 8:33 PM
Government spending will be the engine that powers growth in the other sectors of Indias slowing economy, SBI chairman Rajnish Kumar said in an interview. "There is an obvious slowdown in demand... it is visible in every sector," Kumar said. "The major spending thrust will come from the government. Once that starts reflecting on the ground, I am hopeful that private-sector investments will follow."
Wednesday, July 17, 2019, 8:42 AM
Total bad loans of commercial banks declined by Rs.1.02-lakh-crore to Rs.9.34-lakh-crore in the 2018-19 fiscal on the back of steps taken by the government, Finance Minister Nirmala Sitharaman said. Sitharaman said the SCBs effected record recovery of Rs.4,01,424 crore over the last four financial years, including record recovery of Rs.1,56,746-crore during 2018-19 ( provisional data for 2018-19, as reported by RBI on July-9, 2019).
Wednesday, June 19, 2019, 10:31 AM
The Reserve Bank of India has fined HDFC Bank Rs.1 crore for non-compliance with the central bank's norms on 'know your customer (KYC)/anti-money laundering (AML)' and 'reporting of frauds'. "This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers," the RBI said.
Friday, April 12, 2019, 6:44 PM
Instant messaging service WhatsApp may take-up to five-months to fully localise its payments data in India and go live, said two-bankers in know of matter, after a-test-launch of its payments service among a-limited-number of users faced stiff opposition from competitors last-year. The company does not share details of exact-number of users on its platform, but sources said it may be in range of 7L.
Wednesday, March 13, 2019, 5:59 PM
HDFC Bank crossed the Rs.6 lakh crore market capitalisation mark for the first time on Wednesday, becoming only the third Indian company to achieve the milestone. The stock has gained around 20% in the last one year. Reliance Industries is the most valued Indian company with a market value of Rs.8.50 lakh crore, followed by TCS at Rs.7.50 lakh crore.
Friday, February 8, 2019, 7:54 AM
Governor Shaktikanta Das' maiden policy announcement has ensured 'growth' re-enters the central-banking vocabulary and there are chances of more-rate-cuts like the one delivered surprisingly Thursday, analysts and industry observers said. "Growth re-enters the central bank's vocabulary as something to be cherished and not to be viewed exclusively as something that raised the risk of inflation," economists at largest private sector lender HDFC Bank said.
Thursday, January 3, 2019, 8:59 PM
Powered by the business of Dena Bank and Vijaya Bank, Bank of Baroda will become larger than ICICI Bank from 1 April following completion of the amalgamation process of three state-run banks. After State Bank of India (SBI) and HDFC Bank, with businesses of Rs 45.85 trillion and Rs 15.8 trillion respectively, ICICI Bank (Rs 11.02 trillion) is the third largest commercial bank now.
Saturday, December 8, 2018, 10:15 AM
HDFC Bank on Friday hiked its marginal cost of funds lending rate (MCLR) to 8.40%, 8.45% and 8.55% for the one, three- and six-month tenures, respectively. The hike for all buckets was 5 basis points. HDFC Bank has hiked its short-term MCLR rates consecutively for the past four months. However, the private sector lender left the benchmark one-year MCLR unchanged at 8.70%.
Wednesday, December 5, 2018, 7:23 PM
RBI's policy decision to hold the repo rate at 6.5% in its fifth bi-monthly policy review failed to uplift investor sentiment, which was already subdued given the fall in global stocks. The central bank maintained its 'calibrated tightening' stance although it cut its inflation projection for H2FY19 to 2.7-3.2% from 3.9-4.5% earlier. On NSE, barring Nifty IT index all other major indices ended lower.
Monday, December 3, 2018, 12:23 PM
HDFC Bank has withdrawn its mobile app from Google Play Store and Apple App Store after users complained of being unable to access it. The mobile app had been revamped and launched earlier this week with new interface and features. The bank is yet to issue an update regarding when the new version will be made available for users.
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