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Byju's representatives informed Lad that their funds are currently in an escrow account with the National Company Law Tribunal or NCLT and that a hearing is scheduled for July 4

HDFC Bank system upgrade on July 13 to disrupt UPI, NetBanking, and Fund transfers

All fund transfer methods, including IMPS, NEFT, RTGS, HDFC Bank account-to-account online transfers, and branch transfers, will also be unavailable throughout the upgrade

HDFC Bank has announced a scheduled system upgrade on July 13, which will temporarily impact various services. UPI services will be unavailable for customers from 3:00 AM to 3:45 AM and from 9:30 AM to 12:45 PM on July 13, 2024.&nbsp; During the entire upgrade period, NetBanking and Mobile Banking services will be unavailable. The upgrade is scheduled from 3:00 AM to 4:30 PM on 13th July 2024, during a bank holiday to reduce inconvenience.&nbsp; Also read/watch -<a title="Hindenburg Research receives show cause notice from SEBI over Adani stock bets" href="https://www.editorji.com/business-news/hindenburg-research-receives-show-cause-notice-from-sebi-over-adani-stock-bets-1719896503571"> Hindenburg Research receives show cause notice from SEBI over Adani stock bets</a> Additionally, all fund transfer methods, including IMPS, NEFT, RTGS, HDFC Bank account-to-account online transfers, and branch transfers, will also be unavailable throughout the upgrade. Despite these disruptions, customers will still be able to withdraw cash from ATMs using HDFC Bank debit and credit cards, though with restricted limits. Debit and credit cards can also be used on swipe machines at stores and for online purchases.

In a span of three months, HDFC bank has increased the home loan rates by 35 basis points with the lowest interest rate for Rs 50 lakh is increased to 8.7% from 8.35% in January

Home loan from HDFC Bank gets costlier after gradual increase in repo-rate linked interest rate

<h2>In a span of three months, HDFC bank has increased the home loan rates by 35 basis points with the lowest interest rate for Rs 50 lakh is increased to 8.7% from 8.35% in January</h2>

If you&rsquo;re planning to take a loan to buy your dream house, then here&rsquo;s some important information. Since January last year, India's largest private sector lender HDFC Bank has increased its repo rate-linked home loan interest rate gradually. This increase in rates comes even as the Reserve Bank of India has kept the repo rate unchanged since April last year. The rate increase will, however, apply to only newer loans and the existing loans will be unaffected
<h3>HDFC Bank's home loan&nbsp;</h3>
The repo-rate linked home loan rates should always move in tandem with changes in the RBI's repo rate. HDFC Bank's lowest interest rate on a Rs 50 lakh home loan was 8.35% in January. Currently, the lowest rate is 8.70%. This means, in a span of three months, the lender has effectively increased home loan rates by 35 basis points (bps).
&ldquo;HDFC Ltd was selling home loans aggressively at about the 8.30% to 8.45% range just a few months prior to the merger with HDFC Bank. Post-merger, HDFC Bank has been increasing the rates at portfolio level, citing a rise in cost of funds,&rdquo; Vipul Patel, founder of MortgageWorld, a loan consulting firm told Moneycontrol.
Also Read: <a href="https://www.editorji.com/business-news/personal-finance/hdfc-bank-hikes-mclr-by-upto-10-bps-here-s-how-your-loan-emis-will-be-impacted-1707374455946">HDFC Bank hikes MCLR by upto 10 bps; here's how your loan EMIs will be impacted</a>
Along with HDFC Bank, other private lenders like Axis Bank and Karur Vysya Bank have also increased their effective new home loan rates by 5 bps this year. In January, the lowest home loan rates at Axis Bank for a Rs 50 lakh loan was 8.70% and Karur Vysya Bank was 8.95%. From March, these rates went up to 8.75% at Axis Bank and 9% at Karur Vysya Bank.
However, nationalised banks like State Bank of India, Bank of Baroda, and Bank of India have not increased their rates.
<h3>Impact of change in home loans</h3>
Moneycontrol quoted home loan experts and mentioned that the change in interest rate could be due to the change in spreads. The spreads come into play while calculating the total cost of the repo-rate linked interest rate.&nbsp;
There are three components in a repo-rate linked loan. This includes the repo rate, the operating cost spread and the credit risk premium. Out of this, once the home loan contract is signed, the operating cost spread can be reset only once in three years. However, the spread can be revised for new borrowers.
&ldquo;This spread includes mainly the cost of funds, cost of overheads, margin for revenue generation/business (profitability),&rdquo; Patel told Moneycontrol. He further added that these may vary from bank to bank and are generally decided by the asset liability committee.
&nbsp;

HDFC Bank Group gets RBI nod to acquire up to 9.5% stakes in 6 banks, NBFCs including Yes Bank, IndusInd

<h2>This approval for acquiring stake is intended for investments by HDFC Asset Management Company (AMC), HDFC Ergo and HDFC Life Insurance</h2>

The Reserve Bank of India has granted permission to HDFC Bank Group to acquire stakes of up to 9.50 percent in 6 banks and NBFCs including IndusInd Bank, Yes Bank, Axis Bank, ICICI Bank, Suryoday Small Finance Bank, and Bandhan Bank. As per a filing with the exchanges, this approval for acquiring stake is intended for investments by HDFC Asset Management Company (AMC), HDFC Ergo and HDFC Life Insurance. Also read/watch - <a title="Jio Financial Services dismisses talks to acquire Paytm's wallet business" href="https://www.editorji.com/business-news/markets/jio-financial-services-dismisses-talks-to-acquire-paytm-s-wallet-business-1707191552605#google_vignette">Jio Financial Services dismisses talks to acquire Paytm's wallet business</a> HDFC Bank has been granted a one-year window by the Reserve Bank of India to secure the approved shareholding in various banks. Failure to do so within the stipulated period will result in the nullification of the approval. The RBI approval is subject to compliance with the Banking Regulation Act, 1949, RBI's Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023 (as amended), provisions of the Foreign Exchange Management Act, 1999, regulations by the Securities and Exchange Board of India (SEBI), and other applicable statutes, regulations, and guidelines, the filing noted.

The market valuation of HDFC Bank fell by Rs 32,661.45 crore to Rs 10,90,001.31 crore

Mcap of 7 of top-10 most-valued firms erode by Rs 1.16 lakh cr; HDFC Bank biggest laggard

<h2>The market valuation of HDFC Bank fell by Rs 32,661.45 crore to Rs 10,90,001.31 crore</h2>

The combined market valuation of seven of the top-10 most-valued firms eroded by Rs 1.16 lakh crore last week, with HDFC Bank emerging as the biggest laggard.
In the holiday-shortened week, the BSE benchmark fell by 982.56 points or 1.37 per cent.
Of the top-10 most-valued firms, Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Life Insurance Corporation of India (LIC), Hindustan Unilever, ITC and State Bank of India were the laggards, ICICI Bank, Infosys and Bharti Airtel emerged as the gainers.
The market valuation of HDFC Bank fell by Rs 32,661.45 crore to Rs 10,90,001.31 crore.
LIC's valuation tumbled by Rs 20,682.74 crore to Rs 5,71,337.04 crore.
The market valuation of TCS eroded by Rs 19,173.43 crore to Rs 13,93,439.94 crore and that of State Bank of India plunged by Rs 16,599.77 crore to Rs 5,46,989.47 crore.
ITC's valuation diminished by Rs 15,908.1 crore to Rs 5,68,262.28 crore and that of Hindustan Unilever declined by Rs 9,210.4 crore to Rs 5,70,974.17 crore.
The market capitalisation (mcap) of Reliance Industries dipped by Rs 1,928.22 crore to Rs 18,33,737.60 crore.
However, the mcap of Bharti Airtel jumped Rs 20,727.87 crore to Rs 6,52,407.83 crore.
Infosys added Rs 9,151.75 crore taking its valuation to Rs 6,93,457.65 crore, and the mcap of ICICI Bank climbed Rs 1,137.37 crore to Rs 7,08,511.16 crore.
In the ranking of the most-valued firms, Reliance Industries retained the number one position followed by TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, LIC, Hindustan Unilever, ITC and State Bank of India.&nbsp;

HDFC bank shares plunge after the Q3 net interest margin of the bank was lower than analysts' estimates, growing only by 24% YOY to Rs 28,470 crore during the quarter

HDFC bank drags down share market; shares plunge 7% as Q3 results disappoint investors

<h2>HDFC bank shares plunge after the Q3 net interest margin of the bank was lower than analysts' estimates, growing only by 24% YOY to Rs 28,470 crore during the quarter</h2>

HDFC bank shares saw the biggest fall in over three years on Wednesday as its shares plunged over 7% to Rs 1,560 a piece, losing as much as Rs 82,720.1 crore in market cap. This after the Q3 net interest margin of the bank was lower than analysts' estimates.&nbsp;
In the past one year, the stock of HDFC Bank gained over 5% as against a 25 percent surge in the benchmark Sensex.
<h3>Market Performance</h3>
The fall in the shares has also dragged down the benchmark indices, Sensex and the Nifty by over 1%. The Nifty Bank fell as much as 3.31%, led by fall in HDFC Bank, Axis Bank and Kotak Mahindra Bank.
Also Read: <a href="https://www.editorji.com/business-news/markets/sensex-crashes-950-points-nifty-hovers-around-21-786-in-early-trade-hdfc-bank-slides-5-1705467815334">Sensex crashes 950 Points, Nifty hovers around 21,786 in early trade; HDFC Bank slides 5%</a>
The impact of HDFC shares is signification as it commands over 14% weightage on the Nifty 50 index, which is the highest among the constituents.
"Today, the Sensex and Nifty experienced a significant downturn, driven by a sell-off in banks following HDFC Bank's Q3 results and amidst unfavourable global indicators," Shrey Jain, chief executive officer of SAS Online told NDTV-Profit.
<h3>HDFC Bank Q3 Results</h3>
Investors were disappointed of the Q3 results extending loss in HDFC Bank's US-listed ADRs. As per Bernstein Research, the bank disappointed both in terms of the loan to deposit ratio and net interest margin change.&nbsp;
The HDFC Bank ADR, the US-listed shares of the bank, tanked 6.7% on the NYSE to $61 in the biggest single-day drop since April 2022.
Core net interest margin for the bank stood at 3.4% as of Dec. 31, and at 3.6% on an interest earning assets basis. Meanwhile, the net profit rose 33% Y-O-Y to &nbsp;Rs 16,372 crore in Q3FY24, which was near expectations. However, it included a one-time tax rate gain. The bank's net interest income grew 24% on-year to Rs 28,470 crore during the quarter, falling below estimates.
The Non-performing assets of the bank also grew by 1.26% in Q3FY24 from 1.23% last fiscal. Its net NPA dropped to 0.31% from 0.33% in this period.

HDFC Bank that received 75 bids worth Rs 8,700 crore, was intending to raise Rs 10,000 crore through the issuance of infrastructure bonds, with a base issue size of Rs 5,000 crore and a greenshoe option of the same amount

HDFC bank raises Rs 7,425 crore through Infrastructure bond issue: Report 

<h2>HDFC Bank that received 75 bids worth Rs 8,700 crore, was intending to raise Rs 10,000 crore through the issuance of infrastructure bonds, with a base issue size of Rs 5,000 crore and a greenshoe option of the same amount</h2>

India's largest private lender HDFC Bank has raised Rs 7,425 crore through its maiden 10-year infrastructure bond issue on Monday, at the coupon rate of 7.71%, reported NDTV Profit. The coupon rate is the annual income an investor can expect to receive while holding a particular bond. As per the report, this was the first debt sale by the banking heavyweight after its merger with Housing Development Finance Corp. in July.
<h3>HDFC Bank Fund Raise</h3>
HDFC Bank had received 75 bids worth Rs 8,700 crore. It was intending to raise Rs 10,000 crore through the issuance of infrastructure bonds, with a base issue size of Rs 5,000 crore and a greenshoe option of the same amount.
Also Read: <a href="https://www.editorji.com/business-news/markets/rbi-strengthens-regulations-on-personal-loans-for-banks-and-nbfcs-1700144975394">RBI strengthens regulations on personal loans for banks and NBFCs</a>
Greenshoe Option is a provision in IPO granting the underwriter the right to sell more shares than originally planned.&nbsp;
<h3>Macro-economic challenges</h3>
Experts who spoke to NDTV Profit said that while the prevailing macroeconomic conditions are pretty much congenial for entities to raise funds through the domestic bond market, banks are unable to raise the entire amount.
"Few banks have tried to raise capital through the bond markets and couldn&rsquo;t succeed in accepting the entire issue amount due to pricing issues, besides comparatively lesser investor participation," Venkatakrishnan Srinivasan, founder and managing partner of Rockfort Fincap LLP told NDTV Profit.
Srinivasan also said that banks have been scrambling to raise funds after the Reserve Bank of India increased the risk weightage on consumer credit.&nbsp;
As per NDTV Profit, along with HDFC Bank, several banks including State Bank of India, Canara Bank, ICICI Bank Ltd. and Bank of Baroda have issued infrastructure bonds in the last couple of months. Nabard, too, is looking to raise Rs 10,000 crore through infrastructure bonds, with a greenshoe option of Rs 5,000 crore.
A reason for firms to use infrastructure bond for long-term capital is a cushion from a regulatory perspective. Funds raised through infrastructure bonds are deployed for infrastructure lending, where the RBI exempts banks on maintaining statutory liquidity ratio and cash reserve ratio.
&nbsp;

Arvind Vohra who worked as Operations Director at Vodafone joined HDFC bank in 2018 and has been responsible for retail branch banking business and trade & forex business 

HDFC bank refutes reports of Arvind Vohra's exit

Arvind Vohra who worked as Operations Director at Vodafone joined HDFC bank in 2018 and has been responsible for retail branch banking business and trade &amp; forex business&nbsp;

HDFC bank has refuted reports of its Country head of Retail Banking Arvind Vohra's exit from the bank, reported ET Now. Certain reports claimed that Vohra is set to join another bank. However the bank has called those reports baseless and inaccurate.
Arvind Vohra joined HDFC bank in 2018 and has been responsible for retail branch banking business and trade &amp; forex business. Prior to joining HDFC bank, Vohra worked as Operations Director at Vodafone.
Also Read: <a href="https://www.editorji.com/business-news/merger-of-hdfc-with-hdfc-bank-effective-from-july-1-hdfc-chairman-deepak-parekh-1687866054319">Merger of HDFC with HDFC Bank effective from July 1: HDFC chairman Deepak Parekh</a>
Meanwhile, the Reserve Bank of India has approved the re-appointment of Sashidhar Jagdishan as HDFC Bank MD &amp; CEO for a period of three more years. Jagdishan will continue to stay in office till 26 October 2026.
Sashidhar Jagdishan joined the bank in 1996 as a Manager in the Finance function. He became Business Head - Finance in 1999 and was appointed as Chief Financial Officer in 2008.&nbsp;

The number of banks in the pilot has gone up to 13 from eight banks initially, and at present, there are 13 lakh users of the CBDC, including 3 lakh merchants

Central bank digital currency: HDFC Bank onboards over 1 lakh customers

The number of banks in the pilot has gone up to 13 from eight banks initially, and at present, there are 13 lakh users of the CBDC, including 3 lakh merchants

The largest private sector lender HDFC Bank on Thursday claimed that it has on-boarded over 1 lakh customers and more than 1.7 lakh merchants on the CBDC pilot programme and activated an interoperable UPI QR code with the e-rupee platform.
The Reserve Bank of India last November launched the Central Bank Digital Currency (CBDC) pilot programme, a tokenised digital version of the rupee for wholesale and retail early December.
Earlier this week, RBI Deputy Governor T Rabi Sankar said the monetary authority is planning to increase the digital rupee transactions to 10 lakh/day by the end of the year from 5,000-10,000 per day now.
The number of banks in the pilot has gone up to 13 from eight banks initially, and at present, there are 13 lakh users of the CBDC, including 3 lakh merchants.
There were only 1 lakh users till April-end this year, which has now been increased to 13 lakh, Sankar said.
Following the launch, the central bank in June announced CBDC interoperability with UPI systems.
With the launch of the UPI QR code on Thursday, HDFC Bank, which earlier this month took over its parent HDFC in a mega USD 40-billion merger, said it is one of the first banks to complete the integration process and allows its onboarded merchants to accept e-rupee payments from their customers, boosting usage of the CBDC in day-to-day transactions.
An interoperable QR code enables basic QR payment acceptance terminals to support scan and pay features from various factors and payment options.
For customers, the key benefits of the interoperable UPI QR code with the CBDC include money transactions available in their CBDC wallet across the UPI QR code, avoiding the need to scan different QR codes at the same merchant.
For the merchants, the main benefit is that they only need to display one QR code at the storefront or through the acquiring bank mobile application, said Parag Rao, head of payments -- consumer finance, technology and digital banking -- at the bank.
The application is currently available to Android version 10+ users and will be launched on iOS, he added.
At present, HDFC Bank facilitates e-rupee payments across 26 cities, which include all the major metros and smaller cities like Bhubaneshwar, Guwahati, Gangtok, Indore, Bhopal, Lucknow, Patna, Kochi, Goa, Shimla, Jaipur, Ranchi, Nagpur, Varanasi, Vishakhapatnam, Pondicherry and Vijayawada.

National company law tribunal (NCLT) have given the go-ahead for the mega merger between HDFC and HDFC Bank. 

NCLT approves HDFC-HDFC Bank merger

National company law tribunal (NCLT) have given the go-ahead for the mega merger between HDFC and HDFC Bank.&nbsp;

The decks are cleared for the mega merger of HDFC and HDFC Bank to go ahead. The merger has been approved by the National Company Law Tribunal (NCLT).&nbsp;
The merger has already received in-principal approval from regulators including RBI, SEBI, insurance regulator IRDAI as well as shareholders and competitions commission of India. Both the stock exchanges have also given an NOC for the deal. &nbsp;
The deal, deemed the biggest merger in India's corporate history, was announced on April 4, 2022. The deal valued at around $40 billion will lead to the creation of a banking behemoth. The combined entity will have a combined asset base of around 18 lakh crore.&nbsp;
Post the merger, HDFC Bank will be 100% owned by public shareholders, and existing shareholders of HDFC will own 41% of the bank. Every HDFC shareholder will get 42 shares of HDFC Bank for every 25 shares held.
Shares of both HDFC bank and HDFC closed the day about 1.7% higher.&nbsp;

Rs 1300 crores were sent out erroneously to 100 HDFC Bank customers turning them into sudden crorepatis all due to a technical glitch. The country’s largest private lender faced yet another tech turmoil as a glitch ended up depositing RS 13 crore each in 100 bank accounts attached to the bank’s T Nagar branch over the weekend. However HDFC Bank caught the error in minutes and account holders who were shocked to see their balances were unable to access them. Reports indicate the lender reversed the error within the next few hours but customers were left stranded as they could not access their accounts even for emergent use. According to the private lender, the issue arose due to the introduction of a software patch as part of maintenance during the early hours on May 29. Further, the bank is investigating if the excess money deposited in the accounts has been withdrawn.

100 HDFC Bank customers in Chennai become crorepatis

100 HDFC Bank customers in Chennai become crorepatis as the bank errorenously deposits Rs 1300 crores in various accounts

Kaun Banega Crorepati; Special Edition featuring HDFC Bank! 

Rs 13 crore each was deposited in 100 accounts due to a technical glitch

Rs 1300 crores&nbsp;were sent out erroneously to 100 HDFC&nbsp;Bank customers turning them into sudden crorepatis&nbsp;all due to a technical glitch.&nbsp; The country&rsquo;s largest private lender faced yet another tech turmoil as a glitch ended up depositing RS 13 crore&nbsp;each in 100 bank accounts attached to the bank&rsquo;s T Nagar branch over the weekend.&nbsp; However HDFC&nbsp;Bank caught the error in minutes and account holders who were shocked to see their balances were unable to access them. Reports indicate the lender reversed the error within the next few hours but customers were left stranded as they could not access their accounts even for urgent use.&nbsp; According to the private lender, the issue arose due to the introduction of a software patch as part of maintenance during the early hours on May 29. Further, the bank is investigating if the excess money deposited in the accounts has been withdrawn.

The latest news on April 4 from the world of business, crypto, markets. From a mega merger to a super app, From soaring markets to burning fuel prices here are the details: 
Merger MondayHDFC to merge into HDFC Bank, stocks see biggest intraday gain since 2009. Merged entity likely to be third biggest company on Dalal Street as India’s top housing financier merges with India's largest private bank. Merger ration set at 42:25 for HDFC shareholders. Nifty @ 18,000Bank Nifty surges with HDFC twins takes Nifty back to 18,000 for the first time since Jan 2022 & Sensex reclaims 60,000. Barring realty, all indices traded firm, with bank and financial services leading.Fuel Price Hikes 12th hike in under a month for petrol, diesel prices as the gauge went up again by 40 paise across the country. The total hike now amounts of Rs 8.4/litre. CNG prices also hiked sharply by Rs 2.5 per unit in Delhi. Crypto CornerUS market regulator, the Securities and Exchange Commission (SEC) – urged local companies that provide crypto services to disclose the associated risks with such operations to clients. The agency warned investors to be utterly cautious when delving into the asset class as they could experience a financial loss.'Neu' Pitch From Tata Salt-to-software conglomerate Tata Group is planning to launch is much-awaited super-app on 7 April. The House of Tata has been advertising the app on the IPL pitch ahead of it's launch. The company has already made the app available on the Play Store for android users, but it will be operational on April 7
 

Business News Live: Top 5 market headlines on April 4

The latest news on April 4 from the world of business, crypto, markets. From a mega merger to a super app, From soaring markets to burning fuel prices here are the details: 

Mega Monday Merger: HDFC&nbsp;twins to become one, bulls rejoice

The latest news on April 4 from the world of business, crypto, markets. From a mega merger to a super app, From soaring markets to burning fuel prices here are the details:&nbsp;
<h3>Merger Monday</h3>
HDFC&nbsp;to merge into HDFC&nbsp;Bank<a href="HDFC%20and HDFC Bank announce mega merger; details here" target="_blank">,</a> stocks see biggest intraday gain since 2009. Merged entity likely to be third biggest company on Dalal Street as&nbsp;India&rsquo;s top housing financier merges with India's largest private bank. Merger ration set at 42:25 for HDFC&nbsp;shareholders.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/hdfc-hdfc-bank-merger-what-this-mega-move-means-for-shareholders-customers-1649050027709" target="_blank">HDFC, HDFC Bank merger: What this mega move means for shareholders, customers</a>
<h3>Nifty @ 18,000</h3>
Bank Nifty surges with HDFC&nbsp;twins takes Nifty back to 18,000 for the first time since Jan 2022 &amp;&nbsp;Sensex reclaims 60,000.&nbsp;Barring realty, all indices traded firm, with bank and financial services leading.
<h3>Fuel Price Hikes&nbsp;</h3>
12th hike in under a month for petrol, diesel prices as the gauge went up again by 40 paise across the country. The total hike now amounts of Rs 8.4/litre. CNG prices also hiked sharply by Rs 2.5 per unit in Delhi.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/petrol-diesel-price-12th-hike-on-monday-latest-rates-in-delhi-mumbai-1649038931649" target="_blank">Petrol &amp; diesel price: 12th hike on Monday; latest rates in Delhi, Mumbai</a> Crypto&nbsp;Corner
US market regulator, the Securities and Exchange Commission (SEC) &ndash; urged local companies that provide crypto services to disclose the associated risks with such operations to clients. The agency warned investors to be utterly cautious when delving into the asset class as they could experience a financial loss.
<h3>'Neu' Pitch From Tata&nbsp;Group</h3>
Salt-to-software conglomerate Tata Group is planning to launch is much-awaited super-app on 7 April. The House of Tata&nbsp;has been advertising the app on the IPL pitch ahead of it's launch.&nbsp;The company has already made the app available on the Play Store for android users, but it will be operational on April 7
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/sri-lanka-crisis-why-dynasty-politics-and-rajpaksas-are-being-blamed-1649048985285" target="_blank">Sri Lanka crisis: Why dynasty politics and Rajpaksas are being blamed</a>

It does not get bigger than this! HDFC Bank and mortgage lender HDFC. Here are the details and the mega merger. 

HDFC to merge into HDFC Bank HDFC Ltd will receive shares of HDFC Bank as per approved ratio
HDFC Ltd as of record date will get 42 shares of HDFC Bank for 25 shares held by HDFC shareholder
HDFC Bank will be 100% owned by public shareholders and existing shareholders of HDFC Limited will own 41% of HDFC Bank
HDFC Limited is India’s largest housing finance company with a total AUM of Rs 5.26 lakh crore
HDFC Bank, India's largest private sector bank by assets with market cap of Rs 8.35  lakh crore 
Bank has requested RBI for phased implementation of higher requirements of reserves - CRR, SLR
Lower cost of loans will be available for housing loan customers. 
HDFC will cease to exist after merger is complete 
Completion of Merger Process: Expected by Q2 / Q3 FY24 (December 2023)


HDFC, HDFC Bank merger: What this mega move means for shareholders, customers

Keki Mistry&nbsp;on HDFC&nbsp;&amp; HDFC&nbsp;Bank merger: See potential for 7% more room for international investors post merger in the new entity.&nbsp;

It does not get bigger than this! HDFC&nbsp;Bank and mortgage lender HDFC. Here are the details and the mega merger.&nbsp;
<ul>
<li>HDFC&nbsp;to merge into HDFC&nbsp;Bank&nbsp; HDFC&nbsp;Ltd will receive shares of HDFC&nbsp;Bank as per approved ratio</li>
<li>HDFC&nbsp;Ltd as of record date will get 42 shares of HDFC&nbsp;Bank for 25 shares held by HDFC&nbsp;shareholder</li>
<li>HDFC Bank will be 100% owned by public shareholders and existing shareholders of HDFC Limited will own 41% of HDFC Bank</li>
<li>HDFC Limited is India&rsquo;s largest housing finance company with a total AUM of Rs 5.26 lakh crore</li>
<li>HDFC Bank, India's largest private sector bank by assets with market cap of Rs 8.35&nbsp; lakh crore&nbsp;</li>
<li>Bank has requested RBI&nbsp;for phased implementation of higher requirements of reserves - CRR, SLR</li>
<li>Lower cost of loans will be available for housing loan customers.&nbsp;</li>
<li>HDFC&nbsp;will cease to exist after merger is complete&nbsp;</li>
<li>Completion of Merger Process: Expected by Q2 / Q3 FY24 (December 2023)</li>
</ul>
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/sri-lanka-crisis-why-dynasty-politics-and-rajpaksas-are-being-blamed-1649048985285" target="_blank">Sri Lanka crisis: Why dynasty politics and Rajpaksas are being blamed</a>

HDFC and HDFC Bank merger news: Mega merger announced taking the street by complete surprise, HDFC board approved merger into the HDFC Bank, hdfc bank merger and acquisition, hdfc bank and hdfc ltd difference, hdfc twins merger

HDFC and HDFC Bank announce mega merger; details here 

Deepak&nbsp;Parekh&nbsp;on HDFC&nbsp;&amp; HDFC&nbsp;Bank merger: This is a merger between equals

Mega merger announced taking the street by complete surprise, HDFC&nbsp;board approved merger into the HDFC&nbsp;Bank. The financial giant will come together and overshadowing India's largest bank SBI.42 shares of <a href="https://www.editorji.com/business-news/hdfc-hdfc-bank-merger-what-this-mega-move-means-for-shareholders-customers-1649050027709">HDFC Bank</a> to be given for every 25 shares of HDFC.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/sri-lanka-economic-crisis-10-things-you-must-know-1647855082750" target="_blank">Sri Lanka Economic crisis: 10 things you must know</a> Speaking about the merger,&nbsp;Deepak Parekh, Chairman HDFC Limited, said, &ldquo;This is a merger of equals. Over the last few years, various regulations for banks and NBFCs have been harmonised, thereby enabling the potential merger. Further, the resulting larger balance sheet would allow underwriting of large ticket infrastructure loans, accelerate the pace of credit growth in the economy.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/story/crypto-corner-sebi-bets-on-blockchain-what-is-dlt-and-how-it-marks-a-big-change-1629186153538" target="_blank">Crypto Corner: SEBI bets on blockchain, What is DLT and how it marks a big change</a>

Banking regulator, RBI has lifted all restrictions on HDFC Bank, permitting it to unveil new digital initiatives that was imposed in December 2020 after a spate of outages in the bank's Internet and mobile banking. 
The action by the central bank came after customers of HDFC Bank faced a number of incidents of outages in internet banking, mobile banking, and payment utilities of the bank over the past two years.
In December 2020, the banking regulator had directed HDFC Bank to temporarily halt all digital launches as well as new sourcing of credit card customers, following various outages that the private lender faced due to technical glitches in the past two years.

Boost for HDFC Bank: RBI lifts curbs, allows to issue credit cards

RBI has finally lifted the curbs which now allow banking giant HDFC Bank to finally launch new digital initiatives. Removal of curbs which have been in place for more than one year is a big boost as brokerages see big upside in the stock,


Boost for HDFC Bank: RBI lifts curbs, brokerages see 40% upside in stock

RBI has finally lifted the curbs which now allow banking giant HDFC&nbsp;Bank to finally launch new digital initiatives. Removal of curbs which have been in place for more than one year is a big boost as brokerages see big upside in the stock,
Nomura Maintains 'buy' with a target price of Rs 1,955 apiece, implying a potential upside of 40%.
Morgan Stanley Maintains 'overweight' with a target price of Rs 2,050 apiece, implying a potential upside of 46.7%.
Kotak Institutional Equities Upgrades from &lsquo;add&rsquo; to &lsquo;buy&rsquo; with a fair value of Rs 1,740, implying a potential upside of 25%.
&nbsp;

RBI in December 2020 had asked HDFC Bank to stop all launches of its upcoming digital business-generating activities

Banking regulator, RBI has lifted all restrictions on HDFC Bank, permitting it to unveil new digital initiatives&nbsp;that was imposed in December 2020 after a spate of outages in the bank's Internet&nbsp;and mobile banking.&nbsp;Removal of curbs which have been in place for more than one year is a big boost as brokerages see big upside in the stock.
Also read &amp; watch:<a title="&nbsp;Jubilant FoodWorks share price nosedives as CEO resigns" href="https://www.editorji.com/business-news/markets/jubilant-ceo-that-delivered-hot-returns-resigns-stock-crashes-1647232617998">&nbsp;Jubilant FoodWorks share price nosedives as CEO resigns</a> Brokerages on HDFC&nbsp;Bank&nbsp; Nomura&nbsp;maintains 'buy' with a target price of Rs 1,955/share , implying a potential upside of 40%.
Morgan Stanley maintains 'overweight' with a target price of Rs 2,050/share, implying a potential upside of 46.7%.
Kotak Institutional Equities upgrades&nbsp;stock&nbsp;from &lsquo;add&rsquo; to &lsquo;buy&rsquo; with a fair value of Rs 1,740/share,&nbsp;implying a potential upside of 25%.
A look back at the curbs
The action by the central bank came after customers of HDFC Bank faced a number of incidents of outages in internet banking, mobile banking, and payment utilities of the bank over the past two years.
In December 2020, the banking regulator had directed HDFC Bank to temporarily halt all digital launches as well as new sourcing of credit card customers, following various outages that the private lender faced due to technical glitches in the past two years.

Fintech major Paytm is joining hands with India's largest private lender HDFC Bank to co-brand a credit card powered by Visa.

Paytm to co-brand credit card with HDFC Bank

Paytm&nbsp;joins hands with HDFC&nbsp;Bank to co-brand a credit card
October&nbsp;launch planned to tap into potentially higher consumer demand
HDFC Bank and Paytm will introduce business credit card
&nbsp;

HDFC Bank and Paytm will introduce business credit cards across customer segments, with special focus on millennials, business owners and merchants.

Fintech&nbsp;major&nbsp;Paytm is joining&nbsp;hands with India's largest private lender HDFC&nbsp;Bank to co-brand a credit card powered by Visa. The finance&nbsp; giants&nbsp; said that the October&nbsp;launch is planned to tap into potentially higher consumer demand for <a href="https://www.editorji.com/story/global-chip-shortage-could-affect-debit-credit-card-supplies-report-1624797822032" target="_blank">credit card</a> offers, EMIs and buy now pay later options, with the full suite of products to be on offer by the end of December 2021.&nbsp; <a href="https://www.editorji.com/story/hdfc-bank-paytm-connect-for-digital-payments-1629692702699" target="_blank">HDFC Bank and Paytm </a>will introduce business credit cards across customer segments, with special focus on millennials, business owners and merchants.

Fintech major Paytm and the country’s largest private bank HDFC Bank have teamed up to provide  financial solutions to digital payment users across India. 


HDFC Bank, Paytm connect for digital payments

HDFC Bank, Paytm connect for digital payments, enter strategic partnership ahead of the mega fintech&nbsp;IPO

HDFC Bank, Paytm connect for digital payments, 

India's largest private bank and digital payment leader Paytm&nbsp;entered into a strategic partnership

Fintech major Paytm and the country&rsquo;s largest private bank HDFC Bank have teamed up to provide&nbsp;&nbsp;financial solutions to digital payment users across India.&nbsp; Paytm and HDFC Bank will build comprehensive solutions across payment gateways, POS machines and credit products, including Paytm Postpaid, which is a Buy Now Pay Later (BNPL) solution, Eazy EMI and Flexi Pay, the companies said.
Also watch:&nbsp;<a href="https://www.edtr.ai/a1g5" target="_blank">PayTm Job Alert! 20,000 jobs with salaries upto Rs 30,000 as the fintech looks to expand sales</a> Talking about the partnership, Bhavesh Gupta, CEO, <a href="https://www.editorji.com/story/this-alleged-fraud-is-haunting-and-stalling-the-paytm-ipo-1628825623977" target="_blank">Paytm</a> Lending said, &ldquo;&nbsp;This partnership will further strengthen financial services ecosystem by bringing together our technology and digital solutions and HDFC Bank&rsquo;s retail and credit prowess.&rdquo;
Parag Rao, Group Head &ndash; Payments, Consumer Finance, Digital Banking &amp; IT, HDFC Bank also stated, "&nbsp;Through this partnership we will also be jointly delivering enhanced SmartHub solutions to the market" The strategic partnership comes ahead of the proposed&nbsp;₹16,600 crore initial public offering (IPO) of Paytm.
Also watch:&nbsp;<a href="https://www.edtr.ai/9w85" target="_blank">Paytm says 'IPO Karo' DRHP filed, $2.2 billion Diwali IPO planned</a>

After a strict diktat from the central bank itself lenders are warning customers to curb dealings with cryptocurrencies.
Leading banks such as SBI, HDFC&nbsp;Bank have sent notices to customers stating "Usage of credit&nbsp;card&nbsp;for transactions of virtual currency&hellip;will lead to suspension/cancellation of Card.&rdquo; The clampdown asks for details on dealings as they also asked custmers&nbsp;to "clarify the nature of these transactions&hellip;within 30 days." as per ET.The bankers are working on unofficial guidelines given by the RBI&nbsp;as currently dealing in cryptocurrency in India is not illegal.&nbsp; The Supreme Court&nbsp;in February 2020 struck down the RBI&nbsp;circular banning the blockchain tokens&nbsp;after a petition by Internet and Mobile Association of India (IAMAI) and crypto exchanges against the&nbsp;move.

Crypto legality battle continues, Banks clampdown on customers

Crypto legality battle continues, Banks clampdown on customers warn of closure on cards/accounts

Crypto legality battle continues

After a strict diktat from the central bank itself lenders are warning customers to curb dealings with cryptocurrencies.
Leading banks such as SBI, HDFC&nbsp;Bank have sent notices to customers stating "Usage of credit&nbsp;card&nbsp;for transactions of virtual currency&hellip;will lead to suspension/cancellation of Card.&rdquo; The clampdown asks for details on dealings as they also asked customers&nbsp;to "clarify the nature of these transactions&hellip;within 30 days." as per ET. The bankers are working on unofficial guidelines given by the RBI&nbsp;as currently dealing in cryptocurrency in India is not illegal.&nbsp; The Supreme Court&nbsp;in February 2020 struck down the RBI&nbsp;circular banning the blockchain tokens&nbsp;after a petition by Internet and Mobile Association of India (IAMAI) and crypto exchanges against the&nbsp;move.

India&rsquo;s largest private sector lender HDFC&nbsp;Bank delivered a strong set of earnings for Jan-March with profit rising 18.2% vs a year ago.&nbsp;With earnings growth maintaining the 5-year average brokerages are most impressed with the bad debt numbers which have been contained to 1.32%The management however provided no clarity of when the ban of issuing new cards will be lifted.&nbsp;HDFC Bank was barred from issuing any new credit cards on December 12, 2020, after a series of technical glitches
&nbsp;

HDFC Bank reports almost pandemic proof Q4 earnings

India&rsquo;s largest private sector lender HDFC&nbsp;Bank delivered a strong set of earnings for Jan-March with profit rising 18.2% vs a year ago.&nbsp; With earnings growth maintaining the 5-year average brokerages are most impressed with the bad debt numbers which have been contained to 1.32% The management however provided no clarity of when the ban of issuing new cards will be lifted.&nbsp;HDFC Bank was barred from issuing any new credit cards on December 12, 2020, after a series of technical glitches
&nbsp;

India&rsquo;s largest private sector lender HDFC&nbsp;Bank delivered a strong set of earnings for Jan-March with profit rising 18.2% vs a year ago.&nbsp; With earnings growth maintaining the 5-year average brokerages are most impressed with the bad debt numbers which have been contained to 1.32% The management however provided no clarity of when the ban of issuing new cards will be lifted.&nbsp;HDFC Bank was barred from issuing any new credit cards on December 12, 2020, after a series of technical glitches
&nbsp;

Samsung has announced cashback offers on its Galaxy S21 series, with up to ₹10,000 off on the flagship S21 Ultra smartphone.

Samsung cashback offers gives up to ₹10,000 off on the S21 Ultra

Samsung has announced cashback offers on its Galaxy S21 series, with up to ₹10,000 off on the flagship S21 Ultra smartphone. Moreover, the S21+ is being offered with a cashback of ₹7,000, and the S21 with a cashback of ₹5,000. The cashback offer also extends to Galaxy A, M, and F series, and is available to customers on EMI transactions using HDFC Bank Credit and Debit cards.

HDFC Bank&rsquo;s services have been restored hours after users reported problems with their net banking and digital payments. However, the bank has noted that customers may still face intermittent issues as the system stabilises.
The services of India&rsquo;s largest private sector lender were out Saturday evening due to an outage at one of its data centres.
However, HDFC Bank did not divulge the cause of the data center&rsquo;s downfall even as customers faced issues making UPI transactions and card payments.

HDFC Bank services restored after an outage

HDFC Bank&rsquo;s services have been restored hours after users reported problems with their net banking and digital payments.

HDFC Bank services restored after an outage
Users may still face intermittent issues
Outage at a data centre caused problem
Issues with making UPI, card payments

HDFC Bank&rsquo;s services have been restored hours after users reported problems with their net banking and digital payments. However, the bank has noted that customers may still face intermittent issues as the system stabilises.
The services of India&rsquo;s largest private sector lender were out Saturday evening due to an outage at one of its data centres.
However, HDFC Bank did not divulge the cause of the data center&rsquo;s downfall even as customers faced issues making UPI transactions and card payments.

hdfc bank

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