HDFC Bank reduced its Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points across all tenures, effective June 7. The new MCLR rates will range from 8.90% to 9.10%. This decision follows the Reserve Bank of India's recent 50 basis point cut in repo rate and 100 basis point reduction in Cash Reserve Ratio. The bank's share price increased by nearly 1% in response to this announcement. The MCLR reduction is expected to benefit both new and existing borrowers with potentially lower interest rates on loans.
HDFC Bank Refutes Fraud Allegations Against CEO, Calls Claims 'Malicious'
HDFC Bank has strongly denied allegations of financial fraud against its Managing Director and CEO, Sashidhar Jagdishan, made by the Lilavati Trust. The bank claims these accusations are part of a long-standing loan recovery dispute and are malicious and unfounded. HDFC Bank intends to pursue legal remedies to defend its CEO's and the institution's reputation. The bank's statement reflects full support for Jagdishan, who has been CEO since October 2020.
07Jun 25
HDFC Bank CEO Faces Legal Challenges Amid Fraud Allegations
HDFC Bank's CEO Sashidhar Jagdishan is facing demands for suspension and prosecution over alleged financial fraud of Rs 2.05 crore. The Lilavati Kirtilal Mehta Medical Trust has initiated legal action, resulting in an FIR against Jagdishan and seven others following a Magistrate Court order. The allegations involve claims of harassment-related payments. HDFC Bank has not yet issued an official response to these serious allegations, which could potentially impact the bank's reputation and investor confidence.
03Jun 25
HDFC Bank Sees Block Trade of 2 Lakh Shares Worth ₹38.77 Crore
A significant block trade of approximately 200,079 HDFC Bank shares occurred on the National Stock Exchange (NSE). The transaction was executed at ₹1,937.50 per share, totaling ₹38.77 crore. This large-scale trade could indicate institutional activity or changes in major shareholdings, potentially reflecting market sentiment towards HDFC Bank, one of India's leading private sector banks.
02Jun 25
HDFC Bank Revamps Credit Card Charges: New Fees from July 2025
HDFC Bank will introduce significant changes to its credit card fee structure effective July 1, 2025. Key changes include a 1% fee on monthly spends over ₹10,000 for online gaming and wallet loading (capped at ₹4,999/month), 1% fee on utility payments exceeding ₹50,000 for consumer cards and ₹75,000 for business cards, revised caps on rent, fuel, and education payment charges, and limitations on reward points for insurance transactions on most cards. These changes may impact cardholders' spending habits and rewards, particularly affecting heavy users of online gaming platforms, digital wallets, and those making large utility payments.
23May 25
HDFC Bank Revamps Lounge Access for Tata Neu Infinity Credit Card
HDFC Bank is implementing a new spend-based lounge access policy for Tata Neu Infinity Credit Card holders from June 10. Cardholders must spend Rs 50,000 per quarter to earn up to 8 complimentary domestic lounge visits annually, replacing the current swipe-based system. This change aims to reward higher-spending customers and may impact casual lounge users.
HDFC Bank Shares: Major Block Trade Worth Rs. 97.87 Crores Executed
HDFC Bank experienced a significant block trade on the NSE, involving 505,756 shares at Rs. 1,935.10 per share, totaling Rs. 97.87 crores. This large-scale transaction underscores the ongoing interest in HDFC Bank shares among major investors.