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On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking India's largest-ever M&A deal. [23] [24] As part of the merger, HDFC Ltd would transfer its home loan portfolio to HDFC Bank, while the bank offered depositors of HDFC Ltd the choice of either withdrawing their money or renewing their deposits with the bank at the interest rate that the bank was then offering.
Immediate Payment Service is managed by the National Payments Corporation of India (NPCI) and is built upon the existing National Financial Switch network. In 2010, the NPCI initially carried out a pilot for the mobile payment system with 4 member banks (State Bank of India, Bank of India, Union Bank of India and ICICI Bank), and expanded it to include Yes Bank, Axis Bank and HDFC Bank later ...
HDFC held 26.14% of shares in HDFC Bank. HDFC Bank sources home loans for HDFC for a fee. [22] The key business areas of HDFC Bank were wholesale and retail banking and treasury operations. As of April 2023, its market capitalisation was ₹ 941,386 crore (US$110 billion), making it India's third largest publicly traded company. [23]
Grievance Redressal is a management- and governance-related process used commonly in India.While the term "Grievance Redressal" primarily covers the receipt and processing of complaints from citizens and consumers, a wider definition includes actions taken on any issue raised by them to avail services more effectively.
It will be integrated with banks, fintechs and e-commerce players. Initially it will go live with AU Small Finance Bank, Axis Bank, HDFC Bank, IDFC First Bank, and YES Bank. [63] During Diwali week, ONDC recorded nearly 1.2 million transactions from 6 November to 13 November 2023 across 600+ cities. [64]
The bank says it strives to make sure its borrowers provide real help to people pushed aside by big projects. In Laos, the bank says, authorities built more than 1,300 new homes with electricity and toilets, 32 schools and two health centers for thousands of people forced to move to make way for a World Bank-financed dam.
This broker goes to another bank and tries to sell the securities and vice versa for buying. Since Mehta was a renowned broker, he issued cheques in his name instead of the bank. When the bank wanted money for the securities, he approached another bank and repeated the same process, and invested the bank money in the stock market. [10]
In a complaint filed in Washington, D.C. federal court, the SEC said Musk violated federal securities law by waiting 11 days too long to disclose his initial purchase of 5% of Twitter's common shares.