The move comes two days after similar announcements by rivals SBI and Kotak Mahindra Bank, who are now giving home loans at 6.70 per cent and 6.65 per cent, respectively.
The accused had opened, at least, 10 fake accounts in various banks including the Axis Bank, ICICI, IDBI, and IndusInd bank and applied for loans in HDFC Bank and Bajaj Finance.
HDFC Bank is the largest lender by assets in the private sector in the country. Its net banking and mobile banking app services will be affected for two days on Feb 4 and 5.
Progress is being made on the plan of action provided to the RBI and the bank has taken this positively as it will raise the standard, according to a senior official of HDFC Bank.
On the BSE, shares of the private lender were trading at Rs 1,453.35 apiece, falling 1.39 percent over the previous close.
The RBI on Tuesday said state-owned SBI, along with private-sector lenders ICICI Bank and HDFC Bank continue to be Domestic Systemically Important Banks (D-SIBs) or institutions that are 'too big to fail'.
Eight of the top-10 most valued domestic companies together added Rs 1,25,229.25 crore in market valuation past week in-line with a bullish broader market trend, with HDFC, TCS and Bajaj Finance emerging as the biggest gainers. Over the past week, the BSE benchmark gained 861.68 points or 1.86 per cent.
After two years of waiting, Facebook-owned WhatsApp payment service received approval from the National Payments Corporation of India (NPCI) in November to go live on Unified Payment Interface (UPI) with over 160 supported banks.
Shares of HDFC Bank declined over 2 per cent on Thursday after the company said the Reserve Bank of India has asked it to temporarily stop all launches of its upcoming banking initiatives and issuing of new credit cards.
HDFC Bank said the RBI order “has advised the bank to temporarily stop all launches of the digital business-generating activities planned under its program Digital 2.0 and other proposed business generating IT applications and sourcing of new credit card customers.”
Puri is widely credited for building HDFC Bank from scratch and making it the largest in the private sector space and the most valuable one.
Tata Motors on Saturday said it has collaborated with HDFC Bank for financing of its passenger vehicles.
Aditya Puri, HDFC Bank Chief Executive Officer (CEO) and Managing Director, in an attempt to boost the morale of its employees, assured them that their jobs, bonuses and increments are secure.
Ranked at Number 39, he is the only CMO of an Indian company to be featured in the illustrious list which includes marketing heads of Apple, BMW, Lego, Adobe, Microsoft, P&G among others.
Ravi Santhanam, the Chief Marketing Officer (CMO) of HDFC Bank, has made it to the Forbes' list of 'World's Most Influential CMOs'.
After State Bank of India (SBI), HDFC Bank has stipulated a minimum outstanding balance of Rs 25,000 to consider the credit card or loan outstanding for restructuring under the scheme approved by the Reserve Bank of India (RBI).
In a regulatory filing on Sunday, the lender said that it approved over Rs 47,000 crore of home loans under CLSS to homebuyers belonging to the economically weaker section (EWS), low income group (LIG) and middle income groups (MIG).
A lot has been achieved in the 26-year old journey of HDFC Bank but the "best is yet to come", the lender's outgoing Managing Director Aditya Puri said. Puri expressed satisfaction that he was passing on the baton to Sashidhar Jagdishan, who is the "worthiest person" to lead the bank.
HDFC Bank has reduced its marginal cost of funds-based lending rates (MCLR) by 10 basis points across all tenors with effect from Friday.
Sashidhar Jagdishan is set to replace Aditya Puri as HDFC Bank CEO after the Reserve Bank of India approved his name. Sashidhar Jagdishan is currently the additional director of HDFC Bank and has been associated with it for over 30 years.
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