HDFC Bank's board meets June 18 to review law firms' findings on Atanu Chakraborty's concerns, with preliminary reports indicating no governance issues. The board will also seek a three-month extension for interim chairman Keki Mistry, pending RBI approval.
HDFC Bank's board meets June 18 to review legal findings on ex-chairman Atanu Chakraborty's concerns. Preliminary reports suggest no governance issues. The board will also seek a three-month extension for interim chairman Keki Mistry, pending RBI approval.
Law firms hired by HDFC Bank found no merit in ethical concerns raised by former Chairman Atanu Chakraborty in his resignation letter. Findings are expected to be presented to the board's audit committee soon.
HDFC Bank increases MCLR rates by up to 10 bps, ranging from 8.05% to 8.65% across loan tenures, following RBI's decision to maintain the repo rate at 5.25%.
HDFC Bank launched a voluntary double OTP system for senior citizens (60+) in Gurugram and Faridabad. This security measure requires verification from both the account holder and a trusted contact to prevent cyber fraud and financial losses.
HDFC Bank plans a three-month extension for interim chairman Keki Mistry as the board awaits findings from a legal review before appointing a full-time successor. The bank seeks RBI approval for this extension.
HDFC Bank's Regalia Gold Credit Card now requires Rs 60,000 quarterly spend for 3 domestic lounge visits from July 1, 2026. International Priority Pass access remains unchanged with 6 annual visits.
India's credit card market reached 119 million cards in March 2026, with HDFC Bank expanding its lead to 22.2% of outstanding cards and 29.8% of spending value. Four lenders—HDFC Bank, SBI Cards, ICICI Bank, and Axis Bank—continue to dominate, accounting for nearly 80% of cards in circulation. Public sector banks posted 11.3% year-on-year growth, outpacing private banks at 8.3%, driven by wider distribution networks and co-branded partnerships in tier-2 and tier-3 markets.
HDFC Bank has cautioned its customers against using credit, debit, and forex cards for international capital account transactions like buying stocks or property abroad, citing violations of foreign exchange and banking rules.
HDFC Bank has warned customers not to use credit, debit, or forex cards for international capital account transactions like buying stocks, floating companies, or owning properties abroad, stating such payments violate RBI's Overseas Investment Regulations, 2022. Many resident individuals have been unknowingly violating foreign exchange rules, with some attempting to dodge TCS or circumvent $250,000 annual LRS limits. Several individuals who used credit cards for Dubai property deposits have been questioned by the Enforcement Directorate.
HDFC Bank reported a 10.9% rise in net profit to Rs 74,700 crore for FY26, driven by 12.1% loan growth and 14.4% deposit growth. The bank maintained best-in-class asset quality with gross NPAs at 1.15% and CET1 ratio at 17.3%. Despite leadership changes including former chairman Atanu Chakraborty's resignation on March 17, 2026, analysts at CreditSights expect no meaningful impact on the bank's credit profile, with RBI confirming no material conduct concerns.
