HDFC Bank , in collaboration with Marriott Bonvoy and Flipkart, has rolled out enticing reward programs for credit card users during the festive season, while also announcing a significant leadership transition.

New Reward Programs

HDFC Bank, Marriott Bonvoy, and Flipkart have joined forces to offer attractive rewards for credit card users during the festive period. The new initiatives include:

Marriott Bonvoy HDFC Bank Credit Card Benefits

• New cardholders can earn a ₹1,500 gift voucher, a free night award, and 10 elite night credits by completing a single eligible spend within 45 days of card issuance.
• Cardholders can earn bonus points based on their spending:
  • 5,000 bonus points for ₹1.00 lakh spending
  • 10,000 bonus points for ₹2.50 lakh spending

Flipkart's Big Billion Days Sale Offer

• Users enrolling in Marriott Bonvoy can choose between:
  • A ₹300 Flipkart voucher
  • 400 Flipkart SuperCoins

Hotel Booking Benefits

• 10% member rates with daily food and beverage credits
• 30% dining discounts at select Indian properties
• Applicable for stays booked between September 22 and October 2, for travel from October 5 to March 31

Leadership Change at HDFC Bank

In a separate development, HDFC Bank has announced a significant leadership change. According to a disclosure made under SEBI Listing Regulations:

• Mr. Parag Rao, Group Head of Payments Business, Liability Products, Consumer Finance & Marketing, has superannuated from the Bank's services.
• Mr. Rao has also ceased to be a Senior Management Personnel of the Bank.
• During his 23-year tenure, Mr. Rao held key leadership positions and was instrumental in:
  • Setting up and leading the Payments Business vertical
  • Achieving market leadership in Credit Cards Issuance and Merchant Acquiring
  • Managing Technology, Digital Banking, Marketing, and Liabilities Product functions
  • Restaging products and creating a more concise offering aligned with market realities

HDFC Bank has expressed sincere gratitude to Mr. Parag Rao for his commitment, immense contribution, and outstanding leadership in achieving the Bank's strategic objectives.

These developments showcase HDFC Bank's commitment to enhancing customer experiences through innovative reward programs while also managing key leadership transitions to ensure continued growth and success in the competitive banking sector.

HDFC Bank , one of India's leading private sector banks, witnessed a significant block trade on the National Stock Exchange (NSE) recently. The transaction involved approximately 669,168 shares of the bank, traded at a price of Rs. 951.55 per share.

Block Trade Details

The block deal, which took place on the NSE, had a total transaction value of Rs. 63.67 crores. This substantial trade highlights the continued interest in HDFC Bank's shares among institutional investors and large traders.

HDFC Bank's Recent Corporate Actions

While not directly related to the block trade, it's worth noting some recent developments at HDFC Bank:

Employee Stock Options

HDFC Bank allotted 33,50,606 equity shares to its employees under the Employee Stock Options Scheme (ESOS). This allotment increased the bank's paid-up share capital from 15,36,03,47,948 equity shares to 15,36,36,98,554 equity shares, all with a face value of Re. 1 each.

Leadership Change

Mr. Parag Rao, who served as the Group Head of Payments Business, Liability Products, Consumer Finance & Marketing, superannuated from the bank's services. Mr. Rao had a significant 23-year tenure with HDFC Bank, during which he played a crucial role in establishing the bank as a market leader in Payments Businesses, including Credit Cards Issuance and Merchant Acquiring.

These corporate actions, while separate from the block trade, provide context to the bank's ongoing operations and governance.

The recent block trade of HDFC Bank shares on the NSE, valued at Rs. 63.67 crores, underscores the stock's liquidity and investor interest in one of India's prominent banking institutions.