Mumbai: Global credit ratings firm Moody's on Monday downgraded the country's three largest private sector lenders - ICICI Bank, HDFC Bank and Axis Bank - to D+ from C- to align them with the sovereign rating. As a result, the hybrid debt ratings of these banks, except HDFC Bank, will be negatively impacted. The standalone bank financial strength rating (BFSR) of ICICI, HDFC and Axis are revised down to D+...
06:00 PM, May 14, 2012
Mumbai: The second largest private sector lender HDFC Bank has said the present situation is not conducive for rate cuts but further reduction in Cash Reserve Ratio (CRR) could lead to lower interest rates. "As far as reduction in interest rate is concerned, if there is more CRR cuts, it will happen. Because, given the inflationary environment, we can't reduce the deposit. Also, the call rates are high due to...
01:59 PM, Mar 18, 2012
Mumbai: HDFC Bank on Thursday reported a 31 per cent growth in its net profit at Rs 1,429.66 crore for the December quarter, mainly on account of increase in interest income and lower provisioning for bad loans. The bank's net profit in the October-December 2010 was Rs 1,087.83 crore. During the quarter, net interest income of the bank rose 12 per cent y-o-y to Rs 3,116 crore, HDFC Bank said...
06:49 PM, Jan 19, 2012
New Delhi: HDFC Chairman Deepak Parekh has come down heavily on both the Opposition and the coalition government saying that their style of politics is hurting India's growth. Speaking to Karan Thapar on Devil's Advocate, Thapar said, "Disruption in politics is not good and what we saw in Parliament gives you a little negative feeling on democracy." Deepak Parekh: The role of an opposition party anywhere in the world is...
07:36 AM, Jan 07, 2012
Rajasthan: Leading telecom service provider Vodafone India and private lender HDFC Bank Saturday launched "m-paisa", a mobile banking service in Rajasthan to enable millions of unbanked Indians perform basic banking transactions on their mobile phone. "It is a great opportunity for a country like India to improve financial inclusion through mobile banking. It is a pioneering initiative modelled on the lines of Vodafone's m-pesa product running in three different countries...
11:04 AM, Nov 28, 2011
New Delhi: India Inc welcomed the naming of Cyrus P Mistry as the successor of Ratan Tata for heading the $ 80 billion Tata Group, saying it shows the high standards of corporate governance and integrity of the country's leading industrial house. "In the choice of Mistry, there is a clear message in the trust of the captains of Indian industry in the capabilities of young leaders in the country....
10:52 PM, Nov 23, 2011
Mumbai: ICICI Bank, India's second-largest lender, posted a 30 per cent rise in quarterly profit, slightly below estimates, as strong credit growth and lower provisions for bad loans were offset by higher expenditure. ICICI, also listed in New York, said net profit in April-June rose to 13.32 billion rupees ($302 million) from 10.26 billion a year ago. Net interest income was 24.11 billion rupees, compared with 19.92 billion a year...
02:07 PM, Jul 29, 2011
It introduced the new base rate to ensure that larger borrowers do not bargain for cheaper rates from banks. ...
04:20 PM, Jun 29, 2010
Expect tax buoyancy to pick up from 0.2 in FY10 to 1.3 on recovery. ...
06:16 PM, Feb 18, 2010
Savings account deposits grew by 32.5 per cent as of December 31, 2008. ...
08:25 PM, Jan 14, 2009
Adelaide: India captain MS Dhoni was quick to blame himself for Gautam Gambhir's run-out in the Commonwealth Bank Series match against Sri Lanka here on Tuesday. In pursuit of 237, India were cruising to a comfortable win at 178 for four in the 41st over but Gambhir's run-out at that stage rattled the visitors' innings and the match ended in a tie. What happened was that Dhoni pushed a Lasith...
11:38 PM, Apr 23, 2008
Durban b>Durban: Chennai Super Kings stamped their authority on the Champions League at the St. George's Park on Saturday when they romped home by 57 runs against the champions from New Zealand, Central Stags, thanks to S Badrinath's 52 and the Chennai bowlers who bundled out Stags for just 94. The day began on a sorry note for CSK after MS Dhoni won the toss and chose to take first ...
06:50 PM, Oct 13, 2007
The bank’s plan comes close on the heels of its bigger rival ICICI Bank's decision to mop up over Rs 20,000 crore. ...
11:33 PM, May 17, 2007
HDFC on Thursday announced a hike in its housing loan interest rates by 0.50 per cent. ...
06:05 PM, Feb 15, 2007
IBM announced that HDFC Bank Limited has selected IBM for an industry-first information management software project. ...
05:47 PM, Dec 07, 2006
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