HDFC will use proceeds from issue for financing or refinancing housing finance business requirements.
“Jay Kotak is still young. He will have to work his way up on merit," Kotak Mahindra Bank whole-time director KVS Manian said.
Retail inflation cooled to a three-month low of 6.77% in October, prompting speculation that RBI’s next monetary cycle in December could see a milder interest rate hike of 35 basis points.
There is no need to change goal post for inflation targeting as higher than 6% inflation would hurt growth, RBI Governor Shaktikanta Das said.
Adani group and Reliance Industries are among the 15 entities that have submitted expressions of interest for Future Retail.
The Specified Undertaking of the Unit Trust of India, under the Union government, will sell its 1.55% stake or 4.65 crore shares in Axis Bank.
SBI revises upwards its credit growth target to 14-16% for FY23; to be led by strong demand for capex and corporates replacing overseas credit with rupee loans, chairman Dinesh Khara says.
India’s foreign exchange reserves posted its biggest gain in over a year, rising by $6.56 billion to move to $531.08 billion for the week ending 28 October.
Bank loans surge 17.9% in two weeks to 21 October from year earlier; deposits rise 9.5%.
HDFC assigned loans amounting to Rs 9,145 crore to HDFC Bank during the quarter ended 30 September, up from Rs 7,132 crore a year ago.
Defending RBI’s handling of price situation, Governor Shaktikanta Das said acting prematurely on inflation by increasing repo rate at beginning of year would have exerted heavy cost on economy and citizens.
Heaviest penalty of Rs 1.76 crore was on Vakrangee Ltd, which was fined for non-compliance with some provisions of White Label ATM directions.
Banks traded Rs 275 crore of bonds on the first day using the new form of currency; nine banks participated.
RBI will commence pilot programme of digital rupee for wholesale segment on 1 November; nine banks identified for participation in pilot.
Forex reserves skid to over two-year low as RBI continues to defend rupee; falls by $3.85 bn to $524.52 bn in week ending 21 October.
.
