HDFC BANK RURAL LENDING
Stocks in news: HCL Tech, DMart, Jio Financial, HDFC Life, Kotak Bank
Domestic markets reached record highs. HCL Tech, DMart, Jio Financial, HDFC Life, Kotak Bank, HDFC AMC, and Angel One focus on results. Ashok Vaswani, Kotak’s new chief, stresses tech transformation. HCL Tech reports Rs 4,257 crore profit, Aurobindo Pharma plans share buyback, Blue Star's Rs 27,500 crore market growth projected. DMart profits Rs 774 crore. IREDA profits Rs 384 crore.
Loan interest rates in July 2024: These 7 banks have revised loan interest rates in July
Loan interest rates in July 2024: Marginal Cost of Funds based Lending Rate (MCLR) is the minimum lending rate below which a bank is not permitted to lend. Here is a look at the list of banks that have revised their MCLR in July 2024.
This new RBI rule can lower loan costs for you; comparison of home loan charges of SBI, HDFC Bank, ICICI Bank, PNB, Kotak Mahindra Bank
Here are some processing fee and part payment charges of home loan of top banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Punjab National Bank (PNB).
Margin squeeze to dent banks' Q1 profits, loan growth may offer silver lining
Banks' Q1 profits face headwinds: Emkay Global predicts a sluggish 4% growth in pre-provisioning operating profits for the June quarter. This slowdown, affecting private lenders most, is attributed to shrinking margins and rising operational costs.
How banks look to reclaim the QR code-based payments market
HDFC, Axis, and Yes Bank aim at small business payments with apps like Smarthub Vyapar, Axis Neo, and Yes Biz, offering loans and tracking. UPI transactions reached 8.8 billion in May 2024, with 330 million QR codes. Competing with fintechs like PhonePe, 170 million merchant apps are in use. Banks employ ICICI Pockets and SBI Yono.
HDFC Bank increases loan interest rates by up to 10 basis points; loan EMIs to rise further
The bank has increased the lending rates by up to 10 basis points (bps) on certain tenures. HDFC Bank MCLR interest rates will now range between 9.05% and 9.40%.
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HDFC Bank gross advances jump 52.6% on-year in Q1 to Rs 24.8 lakh crore
HDFC Bank's gross advances increased by 52.6% year-on-year to ₹24.87 lakh crore in the quarter ending June 30, driven by its merger with HDFC Limited last July. Excluding the merger impact, advances grew by 14.9% from June 30, 2023, reaching ₹25.08 lakh crore by March 31, 2024.
HDFC Bank Q1 Update: Advances soar 53% YoY to Rs 24.87 lakh cr; deposits jump 24%
Excluding the impact of the HDFC merger with the bank on July 1, 2023, the bank's gross advances grew by 15% compared to the same period last year. During the first quarter, retail loans increased by approximately Rs 18,600 crore, and commercial and rural banking loans grew by around Rs 7,200 crore. However, corporate and other wholesale loans decreased by Rs 26,600 crore compared to the preceding March quarter.
Mitsubishi UFJ's talks for stake in HDFC Bank said to hit snag
Mitsubishi UFJ Financial Group Inc. (MUFG) is facing hurdles in its negotiations to acquire a minority stake in HDFC Bank Ltd.'s consumer lending unit, HDB Financial Services Ltd. The main point of contention is the extent of control MUFG would have over HDBF's business strategy. While MUFG remains interested in the deal, talks are at risk of further delays or possibly collapsing altogether due to these disagreements.
Comeback Trail: After IT, time for large private banks to make a comeback? 6 top private banks with an upside potential of upto 40%
Today, because one private sector bank and some of the PSU banks are under pressure, the bank nifty is trading in the red. Because the bank in question, Kotak Mahindra bank has come under pressure due to one specific development which tends to be eye-catching, the whole narrative shifts to something which is not related to the core business of banking. If one leaves aside what is happening in the banks today and looks at a slightly broader picture, probably there are underlying indications of something else. A probability of a tactical investment opportunity building in the private sector banks taking place. Look at the leaders from that space, HDFC bank which has been at the forefront of getting all negative news is pretty much close to its earlier highs.
Axis Bank and Piramal Finance join hands under co-lending business
The partnership is expected to leverage the loan processing technology of Piramal Finance and financial expertise of Axis Bank.
Personal loans dearer post RBI risk nudge
Banks adapt to RBI's risk weight changes by adjusting rates and enhancing capital adequacy. The pricing of new loans reflects increased risk, ensuring stability in unsecured lending. Tightened underwriting standards support sustained growth and portfolio quality, aligning with regulatory directives to manage loan risks effectively.
Rates on fresh loans and deposit moderate sequentially in May
In May 2024, the Reserve Bank of India reported a marginal decline in weighted average lending rates on fresh loans and deposits by 16 and one basis points, respectively. The WALR on fresh rupee loans fell to 9.39%, while the WADTDR on fresh term deposits dropped to 6.47%.
Credit growth up by 19.3%, crosses deposit growth; PVBs outpace PSBs: CareEdge
Scheduled Commercial Banks (SCBs) in India saw a significant 19.3% year-on-year credit growth in the last quarter of FY24, translating to an expansion of ₹26.6 lakh crore, reaching ₹164.3 lakh crore in total credit. This surge was driven by personal loans and lending to NBFCs. Deposit growth lagged at 13.6%, with the credit-to-deposit ratio rising to 79.7%.
Green shoots of rural recovery? Bet on these 3 sectors, says Jyotivardhan Jaipuria
Jyotivardhan Jaipuria says both the largecap and the smallcap segments look attractive. In areas where the capacities are in place, where they are running at low utilisation, if demand recovers, then huge operating leverage can be made, those are the companies which we are really focusing on.
Private banks further consolidate lending market share
These banks including the banking sector leaders such as HDFC Bank and ICICI Bank account for a majority share in service sector credit at 51% in FY24. In retail credit, public and private sector banks account for equal share at 49% each.
Loan interest rates in June 2024: These 6 banks have revised loan interest rates in June 2024
Latest loan interest rates: Banks regularly, usually on a monthly basis, assess their marginal cost of lending rates (MCLR) to account for variations in their financing costs and other pertinent aspects. Here are the top banks and their lending rates offered in June 2024, reflecting the changes in MCLR.
HDFC Bank reduces interest rate on this loan: Check details
HDFC Bank has revised its marginal cost of funds-based lending rates (MCLR), according to its official website on June 7, 2024. HDFC Bank’s benchmark marginal cost of funds-based lending rates (MCLR) ranges between 8.95% and 9.35%.
RBI MPC meeting: India’s FY25 GDP forecast raised to 7.2% from 7%
The Reserve Bank of India (RBI) raised the FY25 real GDP growth forecast to 7.2% from 7% due to improved rural and urban demand, bolstered by monsoon predictions. The Monetary Policy Committee kept the benchmark rate at 6.25%, noting domestic economic resilience. India's FY24 GDP growth accelerated to 8.2%, driven by a sharp decline in the GDP deflator.
SBI and Muthoot Microfin join forces to support women entrepreneurs
Muthoot Microfin partners with State Bank of India to provide financial services to women in rural and semi-urban areas. The co-lending initiative targets joint liability groups involved in agriculture and other income-generating activities, offering loans ranging from Rs 10,000 to Rs 3 lakh.
NDA win impact: HUL, HDFC Bank among 31 stocks ideas likely to bounce back
Portfolio allocations and future policies of the NDA govt will be a key determinant of market movements, said a report by Prabhudas Lilladher
Is it time to buy large-cap stocks after yesterday's market drop? Arvind Sanger answers
We invest in companies where we feel promoters' interests are aligned with shareholder interests for long-term value creation and we will have to see in the current coalition government what are going to be the new areas of emphasis and what is going to be the continuity.
TRADERS’ CORNER: Banking major lends support for 5% rise; engineering stock makes base for 7% gain
Nifty formed its day’s high in the early minutes and then remained in a capped range. It closed with a modest gain.
Most SFBs would not clamour to become universal banks if RBI eases some curbs, says ex-Secy
As per the RBI guidelines, SFBs are required to open at least 25 per cent of their branches in unbanked rural centres and are mandated to provide 75 per cent of loans to the priority sector compared to 40 per cent for the commercial banks.
HDFC Bank raises USD 500 mn from IFC for on lending to women borrowers
HDFC Bank secured a USD500 million loan from IFC to support underserved women borrowers by providing microloans through self-help and joint liability groups. The initiative aims to promote financial inclusion and socio-economic growth, empowering women and benefiting the economy.
Loan interest rates of top banks in May 2024: SBI, HDFC Bank, Bank of Baroda, Canara Bank, PNB
The repo rate and other loan-related rates will be taken into account when revising the MCLR on a monthly basis. Here is a look at the latest MCLR of the top 7 banks in May 2024.
Robust govt capex, improvement in business confidence to push growth: Official
"The major reasons cited for India's growth prospects in FY25 include robust public investment/ capex push by the government, sustained growth in business and consumer confidence, and strong services sector, among others," industry body PHDCCI said in a statement quoting Sensarma.
HDFC Bank home loan, car loan, personal loan borrowers, check HDFC Bank latest lending rates here
The Marginal Cost of the Fund-Based Lending Rate or the MCLR is the minimum interest rate that a financial institution needs to charge for a specific loan. Check latest MCLR, base rate, benchmark PLR offered by HDFC Bank.
Bank loan interest rates in April 2024 compared: SBI, HDFC Bank, ICICI Bank, IDBI Bank, Yes Bank, PNB, Bank of Baroda
Latest bank loan interest rates: In April so far, some banks have revised their loan interest rates, while others banks have kept their marginal cost-based lending rates (MCLR) unchanged. Here is a look at the MCLR of the top 8 banks in April 2024.
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