HDFC Bank and ICICI Bank have increased FCNR(B) deposit rates by 25 basis points on select USD tenures, effective August 2026, after the Indian government relaxed hedging costs on 3-5 year FCNR(B) deposits until September 2026, benefiting Non-Resident Indians with tax-free interest.
Three US law firms are investigating HDFC Bank for alleged federal securities law violations. This follows claims that the bank disguised ₹45 crore in payments to MSRDC as marketing expenses, causing HDFC Bank's NYSE-listed shares to drop.
HDFC Bank's Deputy Managing Director Kaizad Bharucha earned ₹17.14 crore in FY26, surpassing CEO Sashidhar Jagdishan's ₹15.13 crore. Both saw salary hikes, with performance-linked variable pay significantly boosting their total remuneration.
Bajaj Broking Research recommends buying Bharti Airtel and HDFC Bank on July 10, 2026. Bharti Airtel is advised for purchase in the ₹1910-1942 range with a target of ₹2125, and HDFC Bank in the 810.00-830.00 range with a target of ₹910.
HDFC Bank has revised its MCLR rates effective July 7, 2026. The overnight MCLR decreased by 5 basis points to 8.05%, while one-year and three-year MCLRs increased by 5 basis points each to 8.45% and 8.70% respectively. Other tenors remain unchanged.
HDFC Bank's board appoints Rajiv Kumar, former Chief Election Commissioner and Finance Secretary, as Chairman for a 4-year term starting June 30, pending RBI approval, following Atanu Chakraborty's resignation in March.
HDFC Bank stated that records do not substantiate claims by former chairman Atanu Chakraborty regarding ethical conflicts during his tenure. Legal reviews found no contemporaneous evidence of his concerns being raised.
HDFC Bank's independent legal review, conducted by US and Indian law firms, found no evidence to substantiate former chairman Atanu Chakraborty's resignation claims of unethical practices or governance issues, despite his non-participation in the probe.
Indian equity indices, Sensex and Nifty, bounced back on Monday, gaining 291 points and 24,100 mark respectively. The rally was driven by falling crude oil prices, foreign fund inflows, and optimism from US-Iran diplomatic progress. Key gainers included Reliance Industries and HDFC Bank.
Former West Bengal minister Aroop Biswas wrote to HDFC Bank requesting a freeze on the party's account until authorities decide control. This comes after he was removed as treasurer and is being probed for 'Messigate'.
Former West Bengal minister Aroop Biswas wrote to HDFC Bank requesting a freeze on the party's account until authorities decide control. The account reportedly holds Rs 535 crore. Biswas was recently removed as treasurer.
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.
