HDFC Home loan rate: HDFC cuts PLR by 5bps, home loans now at 6.75% | India Business News – Times of India

MUMBAI: The country’s largest housing finance company HDFC has cut interest rate on its home loans to 6.75% from 6.8%. HDFC has cut its retail prime lending rate (PLR) by 5 basis points (100bps = 1 percentage point), which will bring down interest rates for existing borrowers too. While State Bank of India’s (SBI’s) best … Read more

Rescue acts, growth measures dominate RBI’s platter in 2020; new inflation target awaited in new year – Times of India

MUMBAI: Delivering a public speech hours after the Reserve Bank of India (RBI) launched a rescue act for Yes Bank on March 6, governor Shaktikanta Das reiterated the RBI’s affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed Covid-19 infection, the World Health Organisation (WHO) … Read more

Former economic affair secretary Atanu Chakraborty likely to be next HDFC Bank chairperson – Times of India

NEW DELHI: Former economic affairs secretary Atanu Chakraborty is likely to be the next chairperson of the country’s largest private sector lender HDFC Bank, sources said. He would replace Shyamala Gopinath, who is set to complete her term in January. According to the sources, the bank has recommended the name of Chakraborty for appointment as … Read more

Bad debt fear keeps private banks away from street vendor loans – Times of India

NEW DELHI: Last week, a branch manager of a leading state-run bank in Madhya Pradesh wrote to the municipal commissioner seeking “cooperation” as several of the 160 street vendors, who were given loans under the PM SVANidhi scheme, had not paid a single instalment, turning them into non-performing assets (NPAs). While executives in the branch … Read more

Infosys rallies on $3 billion Daimler deal, mcap crosses $70 billion – Times of India

BENGALURU/MUMBAI: Infosys crossed $70 billion in market capitalisation for the first-time in its 39-year history after its ADR ran up by 5% at Tuesday’s close on the NYSE. At close of trading on Wednesday, Infosys had a market capitalization of Rs 5.3 lakh crore, the fifth largest company by market value in India. On Wednesday, … Read more

RBI HDFC news: RBI bars HDFC Bank from issuing new credit cards, digital launches following outages | India Business News – Times of India

MUMBAI: The Reserve Bank of India (RBI) has asked HDFC Bank to stop launches of new digital business activity and not to add new credit card customers following repeated outages in its electronic banking services. The lender has also asked the bank’s board to examine the lapses and fix accountability. The country’s largest private bank … Read more