On November 28, HDFC Bank Ltd stated that the Reserve Bank of India (RBI) has levied an INR 91 lakh punishment. In a press release, the RBI noted violations of the Banking Regulation Act as well as failure to follow guidelines pertaining to interest rates, outsourcing, and Know Your Customer
On September 26, HDFC Bank Limited declared that the Dubai Financial Services Authority (DFSA) had formally instructed its Dubai International Financial Centre (DIFC) office to restrict the onboarding of new customers. The DIFC branch is prohibited from approaching or doing business with new clients who have not finished the onboarding
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The globe is slowly paving its way towards a cashless society. From invoices to cards and now to mobile wallets, this significant transformation has reduced the weight of bulky wallets. We can pay for any product, transfer money, make bill payments, and almost everything to do with money from the
Four significant public sector banks have changed their lending rates in response to the Reserve Bank of India's (RBI) recent move to lower the repo rate by 50 basis points, which reflects the central bank's monetary easing stance. In the face of persistent difficulties, the action
With the CEO of HDFC Bank now also named as an accused for allegedly targeting and harassing founder trustee Kishor Mehta, the ongoing conflict between the current trustees and former trustees of the Lilavati Kirtilal Mehta Medical Trust (LKMMT), which operates the renowned Lilavati Hospital in Bandra West, Mumbai, has
The Reserve Bank of India (RBI) fined HDFC Bank INR 75 lakh after discovering that the bank had not followed certain of the guidelines outlined in the RBI's Know Your Customer (KYC) master guidance. Notably, the RBI is referring to a KYC master circular that was last modified
To support manufacturing startups, the Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with SaaS giant Tally Solutions and HDFC Bank by signing a memorandum of understanding (MoU). Tally will provide training, case studies, and expert-led sessions to assist the chosen new-age tech companies in streamlining operations,
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HDFC Bank, India's largest private sector lender by market capitalization, has cemented its position as a leader in the banking industry with its focus on retail and digital banking. Beyond banking, HDFC Bank’s revenue model strikes an effective balance between interest-based earnings and diversified income streams, bolstered
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India's economy and entrepreneurial spirit have flourished in recent years, leading to the emergence of the top 10 companies by market valuation as the leaders of the country's dynamic corporate landscape in 2024. These companies span various sectors and industries, showcasing their success and innovation and
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The startup culture has taken over the world. More and more people are showing interest to start their businesses. The recent growth that the startup world has experienced is immense and it is not going to stop anytime soon. However, beginning a startup means needing one of the most significant
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Covid-19 shook the economies of the whole world. Not just the countries that are developed suffer but also the countries that are developing and are already poor. This shock was instant and the world market crashed as soon as the pandemic hit the world. Businesses all over the world that
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Life is a gift that each one of us cherishes. Indeed, life is so beautiful, but at the same, it's also very uncertain. As we drive through life, we find a partner, bring up a sweet family, and perhaps start a business. Today we're enjoying our
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The corporate sector often requires major backing from banks. Private banks have always been front in targeting the blue-chip manufacturing companies in the entire Indian corporate sector. These also target small or mid-sized corporate companies and agricultural businesses. Private banks offer tons of transactional and banking services such as trade
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The Covid cases in India has seen a surge due to the second wave in the country. Amidst the rise in cases and the shortage of vaccines certain Indian companies have announced that they would provide vaccination for their employees. A handful of companies have also announced that they would
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On 23 April 2021, the Reserve Bank of India had barred American Express and Diners Club International Limited from onboarding new customers to their platform. The ban is expected to come into effect from May 1. Let’s look at why both the payment system operators American Express and Diners
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Citi Bank had recently announced that it will exit retail banking operations in India and 12 other countries. The other countries include Australia, Indonesia, Korea, Bahrain, Malaysia, Philippines, Poland, Taiwan, Russia, Thailand and Vietnam. Citi bank is one of the largest foreign banks in India. Let’s look at the
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Indian startups may become the new eye candy for foreign investors as RBI and SEBI come together allowing them to enlist themselves in foreign jurisdiction. The tech ecosystem is flourishing at a steady pace in India. This pace might get some acceleration if Indian startups decide to approach funding by