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HDFC Bank, established in 1994, is a leading private sector bank in India. It offers a wide range of financial products and services, including retail and wholesale banking, treasury, and digital banking solutions. HDFC Bank has a strong presence across India with a vast network of branches and ATMs. It has a reputation for its customer-centric approach, innovative products, and robust technology platforms. The bank has consistently demonstrated strong financial performance and has received numerous awards and recognition for its excellence in banking. HDFC Bank is committed to sustainable growth and social responsibility through its various initiatives in areas such as education, rural development, and financial inclusion.

Latest News on HDFC Bank

The prestigious Hurun List 2024 has unveiled India’s top 10 most valuable companies, featuring the likes of Reliance, TCS, Infosys, and HDFC Bank.

The Hurun List 2024, a report by Burgandy Private and Hurun Research, has revealed the top 10 most valuable private companies in India, with Reliance Industries topping the list with a valuation of ₹17.5 lakh crore. The top 10 companies had a combined valuation of over ₹84 lakh crore, higher than Saudi Arabia’s entire GDP. The report also highlights the growth of India’s corporate sector, with the top 500 companies seeing a 40% rise in their cumulative value to $3.8 trillion.

The report highlights the sheer scale and growth of India’s corporate sector, with companies like Reliance Industries, Tata Consultancy Services, and HDFC Bank leading the way. The top 10 companies saw a significant increase in their valuation, with Reliance Industries and TCS showing double-digit growth. The rise in valuation is a testament to the growth of India’s economy and the increasing investment in the country’s corporate sector.

The report also emphasizes the importance of corporate social responsibility (CSR) in India, with the top 500 companies collectively spending ₹11,000 crore on CSR initiatives. This demonstrates the commitment of Indian companies to giving back to the community and contributing to sustainable development.

In conclusion, the Hurun List 2024 is a significant report that highlights the growth and scale of India’s corporate sector, as well as the importance of CSR initiatives. It provides valuable insights into the performance of India’s top companies and the opportunity for investors to benefit from the growth of the Indian economy.

Finidi bags a whopping ₹500 crore deal with Union Bank of India, paving the way for the rollout of 900 ATMs across India.

Findi, a cash and payment services provider, has partnered with Union Bank of India to install 900 ATMs across India. The deal is valued at approximately ₹500 crore in revenue and ₹200 crore in EBITDA over a 7+1 year period. This partnership is a significant milestone for Findi, as it expands its reach to underserved urban and rural areas, aligning with its mission to enhance banking infrastructure and improve financial accessibility. Findi, through its majority-owned subsidiary, Transaction Solutions International (TSI), currently operates over 9,000 Brown Label ATMs across India, serving 13 major banks, including SBI, HDFC Bank, and Central Bank of India.

This partnership follows recent developments, including Findi’s acquisition of BankIT, a digital payments provider with over 129,000+ merchant touchpoints, and approval from the Reserve Bank of India (RBI) for the full acquisition of Tata Communications Payment Solutions Ltd. This solidifies Findi’s leadership in India’s financial services sector.

Findi’s Managing Director and CEO, Deepak Verma, emphasized the importance of expanding access to financial services, stating that the company is “strengthening financial inclusion and supporting India’s vision of a more digitally connected economy.” With this partnership, Findi is poised to play a significant role in bridging the financial divide, connecting millions of individuals and businesses to essential banking services.

Get ahead of the game: stay informed about the latest 2025 credit card policy updates from major players like SBI, HDFC, Axis, and YES Bank.

India’s major banks are revising their credit card regulations in 2025, which will impact rewards, charges, and more. It’s essential for credit card holders to stay informed to get the most benefits and avoid surprises. Here’s a concise summary of the changes and why they’re important:

Banks are revising their policies to promote responsible conduct, adapt to the economy, comply with regulatory needs, prevent fraud, and leverage technological progress. It’s crucial for credit card holders to regularly check their bank’s website and updates to avoid surprises and make the most of their credit cards.

Here’s why credit card holders should care:

  1. Avoid surprise charges: Knowing the changes can help prevent unexpected charges.
  2. Maximize rewards: Prior knowledge enables better utilization of rewards and benefits.
  3. Protect your credit rating: Regularly monitoring credit profiles and making timely repayments helps protect credit ratings.
  4. Adapt to new tech: Keeping up with evolving technology simplifies credit management.
  5. Prevent service disruptions: Staying informed prevents service disruptions.

To make informed decisions, credit card holders must carefully examine these changes and remain proactive in managing their finances. Knowing is key to taking advantage of benefits. However, it’s also important to remember that using a credit card carries risks, and responsible use is essential. By staying informed, credit card holders can protect themselves, their credit ratings, and their financial well-being.

HDFC Bank Launches Exclusive Salary Account for Public Sector Undertaking (PSU) Employees with Integrated Cybersecurity Benefits

HDFC Bank has launched a special salary account designed specifically for public sector employees (PSU) in India. This new account, named ‘HDFC Bank PSU Employee Salary Account’, comes with unique benefits, including coverage against cyber fraud. This is a first-in-the-industry offering, setting HDFC Bank apart from others in the market.

The PSU Employee Salary Account is specifically designed to cater to the needs of PSU employees, who often have unique financial requirements and security concerns. The account offers a range of benefits, including:

1. Cyber Fraud Cover: The account comes with a complimentary cyber fraud cover, which provides protection against online frauds and identity theft. This cover is additional to the existing fraud-related product offerings in the market.
2. E-commerce benefits: The account offers exclusive e-commerce benefits, allowing PSU employees to shop from over 5,000 partner merchants and enjoy cashback offers, discounts, and flexible payment options.
3. High-end insurance: The account offers a range of insurance covers, including life insurance, health insurance, and accidental insurance, providing comprehensive coverage to PSU employees and their families.
4. Convenient payment options: The account offers a range of payment options, including online bill payment, NEFT, RTGS, and IMPS, making it easy for PSU employees to manage their finances.
5. High-yield savings: The account also offers high-yield savings options, allowing PSU employees to earn competitive interest rates on their savings.

Eligibility for the HDFC Bank PSU Employee Salary Account is straightforward, with applicants required to be a PSU employee or a retired employee with a minimum of one year of service. The account is available in select cities, with plans to expand to more regions in the future.

The introduction of this product demonstrates HDFC Bank’s commitment to catering to the unique needs of PSU employees, who often face distinct financial challenges. The cyber fraud cover, in particular, is a game-changer, providing an additional layer of protection for PSU employees against online threats.

Overall, the HDFC Bank PSU Employee Salary Account is a comprehensive solution designed to cater to the needs of PSU employees, offering a range of benefits that can make financial management easier, more efficient, and more secure.

Unlock exceptional returns with Fixed Deposits: Earn up to 9.42% interest

The Reserve Bank of India (RBI) has reduced the repo rate to 6.25% after five years, which is likely to affect the interest rates offered by banks on fixed deposits (FDs). While the reduction in repo rate could lead to lower loan rates, it may also result in banks reducing their FD interest rates. Senior citizens can benefit from the interest rates offered by small finance banks, with Utkarsh Small Finance Bank offering 9.42% interest on deposits maturing in 1500 days and AU Small Finance Bank offering 8.88% interest on FDs maturing in 18 months. Other small finance banks, such as ESAF, Suryodaya, and Jana, also offer competitive rates ranging from 8.88% to 9.42%.

Major banks in India, including HDFC Bank, ICICI Bank, Axis Bank, and State Bank of India, offer interest rates ranging from 3% to 7.85% on FDs with durations varying from 1 day to 10 years. For example, HDFC Bank offers 7.85% interest on FDs with a tenure of 2 years and 1 day to 2 years 100 months.

Fixed deposits are considered a low-risk investment option, providing guaranteed returns and safety of principal. The interest rates offered by banks on FDs vary depending on the tenure, with longer tenures typically offering higher interest rates. Banks may offer interest rates between 3% to 8% on FDs, depending on the duration. The reduction in repo rate by the RBI may lead to changes in FD interest rates, making it essential for investors to monitor the developments and explore options that suit their financial goals and risk appetite.

Stock Market Updates of ESAF Bank

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HDFC Bank partners with Rajasthan’s revenue department to facilitate hassle-free tax payments through a seamless online integration.

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HDFC Bank, one of India’s leading private sector banks, has announced its integration with the Rajasthan Online Government Receipts Accounting System (e-GRAS), enabling customers to pay state government taxes and dues online through multiple banking channels. This integration is powered by HDFC Bank’s CollectNow, an omnichannel collections solution, and allows customers to make real-time tax payments for various categories, including commercial taxes, excise duties, and motor vehicle taxes, among others.

The integration streamlines the tax payment process, providing enhanced security and transparency, and offers customers the option to use net banking, multi-net banking, credit cards, and debit cards for transactions. Customers will receive instant digital receipts, ensuring a seamless experience.

HDFC Bank officials expressed gratitude to the Government of Rajasthan for enabling seamless tax payments and emphasized the bank’s commitment to digital transformation and customer experience. The integration is expected to enhance revenue buoyancy for the state and digitally empower customers by simplifying tax payments.

As of December 31, 2024, HDFC Bank operates 497 branches across Rajasthan and has a strong presence nationwide, with 9,143 branches, 21,049 ATMs, and 15,196 business correspondents through Common Service Centres (CSCs). The integration with e-GRAS reinforces HDFC Bank’s commitment to digital banking and public service, ensuring efficiency, accessibility, and security in tax payment processes for residents of Rajasthan.

Overall, the integration is a significant step towards promoting digital payments and enhancing the overall customer experience. It provides customers with a convenient and secure way to make tax payments, which is a vital civic duty. The integration is expected to benefit both the state government and HDFC Bank’s customers, and demonstrates the bank’s commitment to digital transformation and public service.

HDFC Bank Raises MCLR Rate, Making Home Loans More Expensive for 6-Month Tenure Holders

HDFC Bank, India’s largest private lender, has announced an increase in its Marginal Cost of Funds-based Lending Rate (MCLR) by 5 basis points to 9.20% from 9.15% for the overnight tenure, effective from February 7, 2025. This comes as a surprise, as the Reserve Bank of India (RBI) had recently reduced the benchmark repo rate by 25 basis points to 6.25% for the first time in nearly five years. This reduction was expected to lead to a decrease in MCLR rates, resulting in lower EMIs for borrowers.

The MCLR rate measures the minimum interest rate a bank charges for a specific loan from borrowers, influenced by changes in the repo rate, deposit rates, operating costs, and cash reserve requirements. When the MCLR rate increases, EMIs for home loans, personal loans, and other loans also increase. HDFC Bank has increased its MCLR rates for all tenures, ranging from 9.20% to 9.45%.

The RBI’s reduction in the repo rate creates an opportunity for banks to lower their fixed deposit (FD) rates, which could lead to higher interest rates for customers. Small finance banks, such as Utkarsh Small Finance Bank, are already offering high interest rates on FDs, with senior citizens receiving up to 9.42% interest on deposits maturing in 1500 days.

This development presents a window for customers to take advantage of higher interest rates on FDs before banks decrease them further. It’s crucial for borrowers to monitor MCLR rates and adjust their loan repayment strategies accordingly to minimize the impact of increasing EMIs.

Discover the best FD rates for senior citizens and uncover the specifics.

According to the provided data, the top interest rates offered by various banks in India for fixed deposits range from 7.75% to 7%. The interest rates vary based on the bank, deposit term, and the senior citizen category. For the one-year fixed deposit, the highest interest rate is offered by Yes Bank for senior citizens at 7.75%, followed by Bank of Baroda’s 7.35%, and Punjab National Bank’s 7.30%.

For the three-year fixed deposit, Kotak Mahindra Bank and Bank of Baroda offer the highest interest rate at 7.65%, with Axis Bank following closely at 7.60%. Yes Bank offers the lowest interest rate of 7.25% in this category for senior citizens. In the five-year fixed deposit category, Axis Bank and Kotak Mahindra Bank offer the highest interest rate of 7.60%, while Punjab National Bank offers the lowest at 7% for senior citizens.

Term-deposit interest rates are generally higher due to the lock-in period, which makes it essential for individuals to clarify the time period before investing their money in a fixed deposit. The data shows that HDFC, Axis, and ICICI Bank offer relatively lower interest rates of 6.50% for the one-year fixed deposit, making Yes Bank, Bank of Baroda, and Kotak Mahindra Bank attractive options for senior citizens seeking higher returns.

Senior citizens can earn up to 9.5% interest on their fixed deposits following the RBI’s 25bps repo rate cut – MSN

The Reserve Bank of India (RBI) recently cut the repo rate by 25 basis points, which can have a trickle-down effect on fixed deposit interest rates offered by senior citizen deposit schemes. Repo rate is the rate at which the RBI lends money to banks, and changes in this rate can influence bank lending rates. As a result, senior citizens can now grab attractive fixed deposit (FD) interest rates that range from around 7% to 9.5%, depending on the bank and duration of the FD.

For seniors, FDs are a viable option to create a steady flow of income over a fixed term. Senior citizens can opt for FDs, which are deposits made for a specific period (ranging from a few days to several years) with an interest rate earned on the investment. The new interest rates come as a good news for this demographic, enabling them to invest their savings while earning a more attractive return than before.

With the RBI reducing the repo rate, banks that offer FD schemes to senior citizens are likely to adjust their FD rates to compensate for the shift. Some private sector banks that have already adapted to the cut include:

1. ICICI Bank: Announced a reduced FD rate, offering 9.5% interest for tenures between one year to ten years.
2. Axis Bank: Offers rates ranging from 7.90% to 9.00% for respective tenures (1-20 years).
3. HDFC Bank: Started offering 7.90% to 8.90% interest rates.
4. Axis Bank: Suggests attractive rates of around 8-9% with a tenure selection.

It appears that the changed repo rate influenced the FD interests offered by state-owned banks slightly less. So, if possible, senior citizens should explore top-tier private institutions for the potential of higher income.

Before investment, it might be wise for seniors to understand the following specifics:

1. FD rates.
2. Effective interest rates – the actual result of compounding interest.
3. Premature withdrawal penalties
4. Repayment options available
5. Any additional offerings, such as tax benefits associated with senior’s FDs or other perks available.

By looking into these matters, senior citizens can make prudent decisions and use the new RD interest rates provided by the private sector banks before they are cut again. Please note that even though the RBIs repo rates have been readjusted lately, it wouldn’t be ruled out that financial institutions may try to adjust there rates further eventually.

Gurugram resident demands new RM for HDFC Bank after going viral, and bank’s witty response is the icing on the cake.

A marketing expert from Gurugram, Jayanta Chaudhuri, shared a hilarious and frustrating exchange with HDFC Bank’s customer care team on LinkedIn, which has since gone viral. Chaudhuri wanted to change his Relationship Manager (RM) due to their incompetence, but instead of resolving the issue, the bank directed him to contact the same RM to process the request. Chaudhuri jokingly referred to the bank’s response as “pure genius”.

The post quickly gained traction, with many users commenting on the irony of the situation. HDFC Bank eventually responded, apologizing for the inconvenience and promising to sort out the issue. However, the damage was already done, and the post continued to amuse users.

The incident highlights the importance of effective customer service, as well as the internet’s ability to find humor in even the most frustrating situations. One user commented, “Thanks, Jayanta, for making my day a bit more enjoyable,” while another said, “Sounds like them.”

The exchange serves as a reminder that, when it comes to customer service mishaps, the internet never fails to find the humor in it.

Tap into the benefits of the repo rate cut by booking a fixed deposit with an attractive interest rate of up to 9% – MSN.

The Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points, which is a significant move to boost the economy. This rate cut will have a cascading effect on other interest rates, including fixed deposit (FD) rates offered by banks. As a result, now is an excellent opportunity to book your FDs with interest rates up to 9% before banks start reducing their interest rates as a response to the repo rate cut.

FDs are a popular investment option for those looking for a low-risk investment with a fixed return. With a repo rate cut, FD rates are likely to decrease, which means that if you don’t act now, you might miss out on higher interest rates. Here’s why it’s crucial to book your FDs with interest rates up to 9%:

1. Higher Interest Rate: With the repo rate cut, banks will likely reduce their lending rates, including FD rates. Booking your FD now can ensure you get higher interest rates, typically up to 9% for a one-year FD, before they start reducing.
2. Lock-in Period: FDs often come with a lock-in period, which means you agree to keep the deposit with the bank for a specific period. With the RBI’s rate cut, if you book your FD now, you can lock in the current interest rate for the specified period.
3. Compounded Interest: FDs offer compounded interest, meaning your interest gets added to the principal amount, and then the interest is calculated on the new principal. Higher interest rates can lead to a significant increase in your FD’s maturity value.
4. Reduced Liquidity: With the rate cut, banks might reduce their FD rates, which means you might not be able to get the same interest rate if you wait. Booking your FD now ensures you lock in the current rate, which could be higher than what’s available later.

Some of the top banks offering FDs with interest rates up to 9% include:

* State Bank of India (SBI): 8.8% p.a. for 1-2 years
* ICICI Bank: 8.9% p.a. for 1-3 years
* HDFC Bank: 9% p.a. for 2-5 years

In conclusion, with the RBI’s repo rate cut, it’s essential to take advantage of the higher interest rates on FDs before banks start reducing their rates. Book your FDs now to lock in the current interest rates, which could be up to 9%, and secure a higher return on your investment. Don’t miss this opportunity to make the most of the repo rate cut!

As the Reserve Bank of India’s Monetary Policy Committee meets, fixed deposit investors are left wondering what’s in store for their returns if rates are slashed.

The Reserve Bank of India’s Monetary Policy Committee (MPC) is expected to consider an interest rate cut for the first time in almost five years at its meeting on February 7. The RBI has maintained the repo rate at 6.5% for 11 consecutive times, citing ongoing inflationary challenges. However, recent developments suggest that a rate cut may be on the horizon, which could make credit more accessible and boost financial inclusion.

A rate cut would impact fixed deposits (FDs), as banks would lower their FD rates. This is significant, as fixed deposits offer a reliable method for preserving liquidity and securing a guaranteed return on investment. The RBI’s repo rate influences the interest rates banks charge for loans and investments like FDs. A rate cut would result in lower FD rates, making them more attractive for investors seeking safe and rewarding savings options.

Several banks have adjusted their FD interest rates in anticipation of the MPC’s decision. Public sector banks, such as Bank of Maharashtra, Central Bank of India, and Bank of India, are offering FD rates between 7% and 8%. Private sector banks, such as IndusInd Bank, ICICI Bank, and HDFC Bank, are also offering competitive FD rates. Small finance banks, like Unity Small Finance Bank, NorthEast Small Finance Bank, and Suryoday Small Finance Bank, are offering higher FD rates, ranging from 8% to 9%.

With the MPC’s upcoming decision, it is crucial that policy measures strike a balance between fostering financial inclusion and promoting investment growth. A potential rate cut could make credit more accessible, helping individuals manage liquidity needs. At the same time, maintaining attractive FD rates is essential for digital-first investors seeking safe and rewarding savings options.

HDFC Bank’s community development programs breathe life into India’s aspirational districts through initiatives like tofu manufacturing and honey marketing ventures.

HDFC Bank’s Corporate Social Responsibility (CSR) wing is undertaking several initiatives in two aspirational districts in Maharashtra, Washim and Gadchiroli. In Washim, a district known for its soybean production, the bank is partnering with a farmers’ producers organisation (FPO) to establish a tofu production unit. This project aims to benefit at least 500 farmers and is expected to be the only tofu unit in the area. Tofu is made from soybean and is preferred as a low-calorie substitute for paneer.

In Gadchiroli, a district rich in natural resources, the bank plans to help locals sell honey and bamboo products through an organized channel. The bank has tied up with self-help groups (SHGs) to work on these forest products, providing the locals with access to a larger market.

As part of its CSR activities, HDFC Bank has committed Rs 945 crore as of March 31, 2024, one of the highest CSR allocations in the industry. The bank typically partners with local organizations for a period of three years, after which the projects are carried forward by the respective organizations.

Some of the other CSR projects undertaken by HDFC Bank include installation of solar street lighting, promotion of organic farming, irrigation development, and projects on goat and poultry farming. In certain areas, the bank is also working to reduce man-animal conflict. The CSR wing of HDFC Bank aims to make a positive impact in the communities it serves, with a focus on empowering local entrepreneurs and promoting sustainable development.

HDFC Bank launches a Rs 20-crore startup grants initiative

HDFC Bank has launched the eighth edition of its Parivartan Startup Grants program, which aims to support startups working in the social impact space. This year, the program has partnered with 15+ incubators and accelerators to identify and fund 50-60 startups. The selected startups will receive grants of up to Rs 50 lakh, with a total program budget of Rs 20 crore.

The participating incubators and accelerators are well-established organizations in their respective fields, including IIT Madras, IIM Ahmedabad Ventures, Villgro, and others. These incubators will invite applications from social entrepreneurs across India over the next few months.

The Parivartan Startup Grants program is a flagship initiative of HDFC Bank, which has been supporting startups working on social impact projects for several years. The program aims to provide financial support to startups that are addressing social and environmental challenges, and help them scale their impact.

The program has been designed to identify and support startups that have the potential to create a significant impact in the social impact space. The selected startups will receive funding, mentorship, and networking opportunities to help them grow and scale their projects.

Overall, the Parivartan Startup Grants program is an initiative that aims to promote social entrepreneurship and support startups that are working to create positive change in society. With its partnership with leading incubators and accelerators, HDFC Bank is providing a platform for social entrepreneurs to receive funding and support to scale their impact.

India’s NCLAT Confirms NCLT’s Ruling: CoC Can Distribute Resolution Plan Amount Based on Security Interest in Lindustvyas’ Case

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In a recent judgment, the National Company Law Appellate Tribunal (NCLAT) has upheld the decision of the Committee of Creditors (CoC) to distribute the amount received from the resolution process of a corporate debtor based on the security interest under the resolution plan. The case is HDFC Bank Ltd. v. Pratim Bayal.

The Adjudicating Authority (NCLAT) has reviewed the resolution plan prepared by the CoC in the corporate insolvency resolution process (CIRP) of Antrix Fintec Private Limited, a debt-ridden company. HDFC Bank Ltd. (HDFC) had advanced a loan to Antrix Fintec and, as security, took a charge on its movable and immovable assets.

After the CIRP was initiated, the CoC prepared a resolution plan, which provided for the distribution of the amount received from the resolution process among the financial creditors, including HDFC. HDFC, however, disputed the distribution plan, claiming that its security interest was not adequately protected.

NCLAT’s Ruling

The National Company Law Appellate Tribunal (NCLAT) allowed the appeal of HDFC and set aside the order of the Adjudicating Authority (NCLAT). NCLAT held that the CoC had the discretion to distribute the amount based on the security interest, as the security interest was subordinate to the claim of other financial creditors.

The NCLAT observed that the security interest of HDFC was created by the company’s declaration of creation of charge in the financial statement, which was subsequently registered with the Registrar of Companies. The Court found that the CoC’s decision to distribute the amount based on the security interest was reasonable and fair.

The NCLAT judgment highlights the importance of the discretion of the CoC in making decisions during the corporate insolvency resolution process. The Court emphasized that the CoC had the authority to make decisions that were beneficial for the collective interest of all creditors, while also giving due consideration to the security interests of other creditors.

In this case, the NCLAT’s decision is a significant one, as it reaffirms the powers of the CoC to make decisions that may not always favor one creditor over another. The ruling will have a wider impact on the corporate insolvency resolution process in India and will provide a clear understanding of the scope of the CoC’s discretion in making decisions during the resolution process.

Include incentives in the Budget to spur private investment, with a focus on schemes benefiting lower- to middle-income households, suggests HDFC Bank.

The Union Budget 2025 has been praised for its focus on supporting lower and middle-income households, which could help revive private investment in the economy. According to a report by HDFC Bank, the budget’s measures to boost consumption and increase disposable income among these households could provide the necessary push to stimulate economic growth. The report notes that consumer demand has remained weak, affecting corporate sentiment, but the budget’s focus on lower and middle-income households could provide a sentiment boost to get the private investment cycle rolling.

The report highlights that capital expenditure (capex) generally has a stronger impact on economic growth compared to tax cuts, and the government’s efforts to increase capex, along with an expected improvement in rural demand due to a strong agricultural output, is likely to support GDP growth. The report projects India’s economic growth at 6.6 per cent for the financial year 2025-26 (FY26).

One of the major highlights of Budget 2025 is the government’s efforts to address weak consumer demand. The Finance Minister has rationalized income tax slabs across all income groups, along with making adjustments to tax deduction at source (TDS) and tax collected at source (TCS) limits. These measures are expected to increase disposable income, encouraging spending and savings, especially among lower- and middle-income families.

The central government has set an expenditure target of Rs 50.7 lakh crore for FY26, reflecting a 7.4 per cent increase from the previous year. The report cautions that this increase should be seen in the context of slower spending in FY25, which led to a lower base for comparison. Overall, the budget’s consumer-centric approach, combined with continued focus on infrastructure spending, aims to strengthen economic recovery and create a positive business environment that encourages private investments.

Unleash the full potential of your AI ambitions with these cutting-edge, tech-savvy cards

The HDFC Diners Club Black Credit Card is an elite card that offers exceptional rewards and lifestyle benefits for a joining fee of ₹10,000. This premium card stands out from the rest with its generous rewards program, offering an unparalleled 3.33% reward rate on all purchases worldwide.

One of its most notable perks is the unlimited access to worldwide airport lounges, allowing cardholders to experience the ultimate in travel comfort and convenience. Furthermore, the card provides yearly memberships to premium services, making it an attractive choice for AI professionals who appreciate the finer things in life.

For those who love to travel or simply enjoy a luxurious lifestyle, this card provides a comprehensive array of benefits, including exclusive concierge services, personalized support, and more. With this card, users can enjoy rewards, travel, and everyday spending while experiencing the high life without sacrificing convenience or satisfaction.

Here’s a breakdown of the HDFC Diners Club Black Credit Card’s features and benefits:

Unlimited worldwide airport lounge access

High rewards rate of 3.33% on all purchases

Yearly memberships to premium services

Concierge services for exclusive benefits

Personalized support

Whether you’re an AI professional, a business leader, or anyone who values premium rewards and exceptional lifestyle benefits, the HDFC Diners Club Black Credit Card is the ultimate choice. Its impressive range of benefits, flexibility, and comprehensive rewards program make it a premium card that redefines the expectations of what it means to experience the high life.

Textile company Texmaco, finance giant Hines, and healthcare provider Conscient have partnered with HDFC to develop a realty project in Delhi.Note: I’ve used a more formal and concise tone, and included all the necessary information, including the names of the companies involved and the nature of their partnership.

Texmaco Infrastructure and Holdings Limited, a part of the Adventz Group, has partnered with global real estate firms Hines, Conscient, and HDFC Capital to develop a 10-acre mixed-use project in Delhi’s Kamla Nagar. The project will feature 30 lakh square feet of housing and retail space, including modern condominium residences and premium retail spaces. The partners will jointly develop the site, which was previously owned by the Adventz Group.

The project aims to set new benchmarks in urban living and commercial infrastructure, and the partners are committed to delivering a world-class development that honors Delhi’s heritage. The investment and total revenue potential of the project were not disclosed.

Akshay Poddar, Chairman of Texmaco Infrastructure and Holdings, stated that the company had a legacy of excellence and community development, and that this project will help realize the full potential of the land parcel, which has been owned by the group for over 100 years.

HDFC Capital’s MD and CEO, Vipul Roongta, expressed delight at the partnership, highlighting the company’s commitment to delivering lasting value to customers and communities. Hines’ India Country Head, Amit Diwan, noted that this project marks the company’s entry into the Delhi residential market, and that the partnership with Adventz Group and HDFC Capital provides a platform to leverage their global development expertise.

The project will address the shortage of modern residential options in the region, as well as the lack of Grade A retail space. With a presence in key sectors such as fertilizers, engineering, infrastructure, real estate, and consumer durables, the Adventz Group is a USD 3 billion enterprise with a nationwide footprint.

The partners involved in the project include:

* Texmaco Infrastructure and Holdings Limited (Adventz Group)
* Hines (US-based real estate firm)
* Conscient Infrastructure Private Limited (city-based real estate firm)
* HDFC Capital (real estate private equity arm of HDFC Group)

This partnership is a significant development in the Indian real estate sector, and is expected to set a new standard for mixed-use projects in the region.

HDFC Securities and KFin Technologies Forge Partnership to Fast-Track NPS Adoption

HDFC Securities, a leading financial services company, and KFin Technologies, a global financial technology firm, have formed a strategic partnership to accelerate the adoption of National Pension System (NPS). This partnership aims to facilitate the Annaul Pension Yojana (APY) scheme, which is an initiative by the government to provide a secure retirement for citizens.

The partnership will leverage HDFC Securities’ expertise in financial services and KFin Technologies’ experience in technology-based solutions to provide a seamless and user-friendly platform for NPS subscribers. The platform will offer a range of benefits, including a wide range of investment options, transparent and cost-effective, and simplified process for subscribers to manage their retirement savings.

The partnership will also provide a common platform for NPS subscribers to access their accounts, track their investments, and make changes as needed. It will also provide an online system for subscribers to open and maintain their NPS accounts, allowing for greater self-service and accessibility.

The alliance is designed to promote the growth of the NPS scheme, which has seen significant adoption in recent years. According to industry estimates, over 1.5 million subscribers have already enrolled for the scheme, with the number expected to rise significantly in the coming years.

The partnership will also enable KFin Technologies to expand its footprint in the BFSI (Banking, Financial Services, and Insurance) sector, while HDFC Securities will benefit from the expertise of KFin Technologies in technology-based solutions.

Overall, this strategic partnership is a significant step forward in the adoption of the NPS scheme, which is a crucial step towards ensuring the financial security and well-being of individuals in the country.

All leading banks in the country, such as HDFC, SBI, Canara Bank, and others, are playing a vital role in shaping India’s economy.

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The Indian banking industry is a vital part of the country’s economy, with millions of customers receiving a range of financial services. By 2025, Indian banks are expected to continue contributing to economic growth through lending, promoting savings, and supporting businesses. The banking sector has also adopted technology to provide safe and effective digital banking options.

The top 10 Indian banks, led by HDFC Bank and ICICI Bank, have excelled in their financial performance, innovative products, and exceptional customer service. Public sector banks like State Bank of India (SBI) dominate the market, with other notable performances from Axis Bank, Kotak Mahindra Bank, and Punjab National Bank (PNB).

The list of top 10 banks in India by market capitalization includes:

1. HDFC Bank (private, established in 1994, market cap: 13.11 lakh crore, users: 10 crore)
2. ICICI Bank (private, established in 1994, market cap: 9.05 lakh crore, users: 3 crore)
3. SBI (public, established in 1955, market cap: 6.95 lakh crore, users: 50 crore)
4. Kotak Mahindra Bank (private, established in 1985, market cap: 3.55 lakh crore, users: 5.1 crore)
5. Axis Bank (private, established in 1993, market cap: 3.30 lakh crore, users: 2 crore)
6. Bank of Baroda (public, established in 1908, market cap: 1.20 lakh crore, users: 12 crore)
7. Punjab National Bank (public, established in 1895, market cap: 1.19 lakh crore, users: 18 crore)
8. Indian Overseas Bank (public, established in 1937, market cap: 0.97 lakh crore, users: 10 crore)
9. Canara Bank (public, established in 1906, market cap: 0.89 lakh crore, users: 11.65 crore)
10. Union Bank of India (public, established in 1919, market cap: 0.87 lakh crore, users: 15 crore)

These banks have contributed significantly to India’s financial growth, providing digital innovations, personal and business banking products, and shaping the banking industry in India.

Maximize your returns: Earn up to 9.5% interest on your 3-year fixed deposit and invest now!

The article discusses the best fixed deposit (FD) rates offered by various government, private, and small finance banks in India. The article highlights that FDs are a safe and guaranteed way to earn returns on your money, with no market fluctuations affecting the investment. The article also notes that many banks are currently offering attractive interest rates on 3-year FDs, with some banks offering up to 9.5% annual return.

The article provides a list of banks offering good rates on 3-year FDs, divided into two categories: private and small finance banks, and government banks. The list includes banks such as AU Small Finance Bank, Equitas Small Finance Bank, ESAF Small Finance Bank, and Utkarsh Small Finance Bank, which are offering interest rates ranging from 7.5% to 9.5% for general customers and senior citizens. Private banks such as Axis Bank, ICICI Bank, and HDFC Bank are also offering competitive interest rates ranging from 6.5% to 7.5%.

The article also highlights that some banks offer higher interest rates to senior citizens than general customers, with a difference of up to 0.50%. The interest rates mentioned in the article are valid as of January 22, 2025, but investors are advised to verify the rates with the concerned bank or its official website, as rates may change over time.

Overall, the article provides a comprehensive list of banks offering attractive interest rates on 3-year FDs, helping investors to make an informed decision when considering this investment option.

FD Rates: Top banks are offering the highest returns on 400-day fixed deposits – find out where to invest your money for maximum yield.

Here is a summary of the content in 400 words:

In India, fixed deposit (FD) interest rates vary across different banks, depending on the deposit amount, period, and age of the depositor. Private sector banks typically offer higher interest rates for shorter periods. This article highlights various FD schemes from public sector banks, private sector banks, and some individual banks.

Among public sector banks, the Central Bank of India offers the highest interest rate of 7.50% for FDs of 1111 and 3333 days. Punjab & Sind Bank and Bank of Maharashtra also offer high interest rates of 7.45% for 555 days and 366 days, respectively.

Among private sector banks, DCB Bank offers the highest interest rate of 8.05% for FDs of 19-20 months. RBL Bank and IndusInd Bank also offer competitive rates of 8% for 500 days and 7.99% for FDs of 1 year 5 months to 1 year 6 months, respectively. HDFC Bank, ICICI Bank, and YES Bank offer lower interest rates ranging from 7.40% to 7.75% for different periods.

State Bank of India (SBI) offers a maximum rate of 7.25% for 444 days under its Amrit Vrishti scheme. Other public sector banks, such as Bank of Baroda, Bank of India, and Union Bank of India, offer lower interest rates ranging from 6.50% to 7.30% for different periods.

In conclusion, fixed deposit rates in India vary widely depending on the bank, deposit period, and deposit amount. Individuals should research and compare the rates offered by different banks to choose the best FD scheme that suits their financial goals and needs.

Compare the best FD rates for senior citizens: A snapshot of interest rates offered by top public sector banks (SBI, BoB, PNB) and private banks on 1-year, 3-year, and 5-year fixed deposits.

As a senior citizen, it is important to find investments that provide a steady income and security. Fixed Deposits (FDs) are a popular option for senior citizens, as they are safe and offer guaranteed returns. While the interest rates on FDs for senior citizens may vary based on the tenure and bank, there are certain banks that offer more attractive rates.

State Bank of India (SBI) offers 7.75% interest rate to senior citizens on its 444-day Amrit Vrishti scheme, while its 1-year, 3-year, and 5-year FD plans offer 7.30%, 7.25%, and 7.50% interest rates, respectively. Bank of Baroda (BoB) offers 7.80% interest rate to senior citizens on its 400-day Bob Utsav scheme, while Punjab National Bank (PNB) offers 7.75% interest rate on its 400-day FD scheme.

Canara Bank, ICICI Bank, Axis Bank, and HDFC Bank are also offering attractive interest rates to senior citizens on their FD schemes. For instance, Canara Bank offers 7.90% interest rate to senior citizens on its 3-year to less than 5-year FD scheme, while ICICI Bank offers 7.80% interest rate on its 15-month to less than 18-month FD scheme. Axis Bank offers 7.75% interest rate on its 15-month to less than 2-year FD scheme, and HDFC Bank offers 7.90% interest rate on its 4-year 7-month FD scheme.

It is important to note that the minimum deposit amount varies from bank to bank, typically ranging from 7 days to 10 years. Senior citizens can benefit from these FD schemes by investing in the tenure and bank that suits their financial needs and goals.

Investors can earn up to 9% interest rate, capped at three years; view the complete list of participating banks here.

It is becoming increasingly rare to find banks offering interest rates of up to 9% on fixed deposits (FDs). However, some small finance banks are still offering competitive rates to general citizens and senior citizens. For example, North-East Small Finance Bank is offering a 9% interest rate on FDs maturing in three years to general citizens, while senior citizens can earn up to 9.5% interest.

Other small finance banks that offer attractive interest rates on FDs include Suryoday Small Finance Bank (8.6%), Utkarsh Small Finance Bank (8.5%), Jana Small Finance Bank (8.25%), and Unity Small Finance Bank (8.15%). However, it’s essential to note that small finance banks have a unique business model and may pose slightly different risks compared to scheduled commercial banks.

It’s recommended that investors limit their exposure to small finance bank FDs to an amount that falls within the Deposit Insurance Credit Guarantee Corporation (DICGC) coverage of Rs 5 lakh. This ensures that their principal and interest are protected in unforeseen circumstances.

Additionally, it’s crucial to be aware of the tax implications of FDs. According to HDFC Bank, the Tax Deduction at Source (TDS) will be deducted when the interest payable or reinvested on RD and FD per customer across all branches exceeds Rs 40,000 (Rs 50,000 for senior citizens) in a financial year. The bank will also recover TDS from the principal amount of the FD if the interest amount is insufficient to recover TDS.

Overall, while it may be challenging to find high-interest rates on FDs, small finance banks are offering competitive rates to general citizens and senior citizens. However, it’s essential to exercise caution and consider the unique risks and tax implications associated with small finance bank FDs.

Boost Your Savings: 5 Small Finance Banks Offer Jumbo Returns on 3-Year Fixed Deposits up to 9% – Check the List Now

Small finance banks are offering attractive fixed deposit (FD) rates to customers, with some offering as high as 9% interest rate on 3-year deposits. Here are 5 small finance banks that are offering high FD rates on 3-year deposits:

1. Ujjivan Small Finance Bank: Ujjivan SFB is offering a 9% interest rate on 3-year FDs, with a minimum deposit requirement of ₹15,000.
2. Equitas Small Finance Bank: Equitas SFB is offering an 8.75% interest rate on 3-year FDs, with a minimum deposit requirement of ₹10,000.
3. Au Financiers (India) Limited: Au Financiers is offering an 8.75% interest rate on 3-year FDs, with a minimum deposit requirement of ₹10,000.
4. Suryoday Small Finance Bank: Suryoday SFB is offering an 8.5% interest rate on 3-year FDs, with a minimum deposit requirement of ₹10,000.
5. Jana Small Finance Bank: Jana SFB is offering an 8.25% interest rate on 3-year FDs, with a minimum deposit requirement of ₹10,000.

These small finance banks are offering higher interest rates compared to traditional banks, making them an attractive option for customers looking for higher returns on their deposits. Additionally, these banks are also offering other benefits such as higher interest rates on senior citizens, special schemes for women, and online FD booking facilities.

It’s worth noting that the interest rates offered by these small finance banks may vary depending on the location and the customer’s profile. Customers should check the interest rates and terms and conditions before opening an FD account.

In comparison, traditional banks such as State Bank of India, ICICI Bank, and HDFC Bank are offering interest rates ranging from 5.5% to 7.5% on 3-year FDs. This highlights the competitive advantage that small finance banks have in terms of offering higher interest rates to customers.

Overall, small finance banks are offering attractive FD rates to customers, making them a viable option for those looking for higher returns on their deposits.

Mizoram Chief Minister Warns: Failure to Satisfy Customers Will Result in Loss of Business

Mizoram’s Chief Minister, Lalduhoma, has issued a warning to some banks operating in the state to improve their credit-debit (CD) ratio, which is currently below 40% for some banks. The CD ratio measures the percentage of deposits disbursed to customers compared to the total deposits received. Lalduhoma expressed disappointment that some banks are only disbursing 20% of deposits to customers while keeping 80% as reserves. He deemed this practice disrespectful to the people of Mizoram and urged the banks to prioritize the state’s development.

The Chief Minister specifically named several banks, including Yes Bank, Bandhan Bank, Axis Bank, ICICI, HDFC, Central Bank of India, Federal Bank, and North East Small Finance Bank, to improve their CD ratio. He warned that if there is no improvement, the state government will not remain a mute spectator and may result in the banks losing customers.

Lalduhoma emphasized the importance of cooperation between the state government and the banking sector to uplift marginalized sections of society, particularly in agriculture and micro, small, and medium-sized enterprises (MSMEs). He appealed to the bankers to expand their network to rural areas, making it easier for people to access banking services, especially in priority sectors.

The Chief Minister’s warning and appeal are aimed at promoting a more balanced and responsible approach to banking in Mizoram. By improving their CD ratio and expanding their services to rural areas, banks can play a more significant role in the state’s development and contribute to the betterment of people’s lives.