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Following other prominent banks, the country's third largest private sector lender Axis Bank on Thursday announced 30 basis points (bps) reduction in its home loan interest rates to promote affordable housing finance.

"Taking forward its commitment towards affordable housing finance, the bank has revised its rates for home loans up to Rs 30 lakh for the salaried segment to 8.35 per cent, the lowest in the industry," the bank said in a statement here.


 
The war for attracting customers for affordable housing loans intensified on Monday after ICICI Bank and HDFC Ltd. reduced their interest rates by up to 0.3 per cent for loans of up to Rs 30 lakh to promote affordable housing.

New home loans rates for up to Rs 30 lakh for women will be 8.35 per cent and for other others, 8.40 per cent, mortgage lender HDFC Ltd said in a statement.


 
The country's largest mortgage lender HDFC Ltd on Thursday reported a 21.6 per cent fall in its standalone net profit at Rs 2,044.20 crore for the quarter ended March 2017.

The Housing Development Finance Corporation (HDFC Ltd) had made a net profit of Rs 2,607.05 crore on a standalone basis during corresponding January-March period of 2015-16.


 
HDFC Bank hit a new high of Rs 1,567 on BSE have seen it market capitalisation (m-cap) crossing Rs 4-lakh crore.

At 2:53 pm; the stock of private sector lender was trading 1% higher at Rs 1,564, extending its 8% surge in past seven trading sessions after reported a healthy set of numbers for the quarter ended March 31, 2017 (Q4FY17) recording strong growth in net interest income (NII) and improvement in operating parameters. The S&P BSE Sensex was up 2.4% in past eight trading sessions since April 17.


 
For the second successive quarter, there was a massive drop in HDFC Bank's headcount that came down by over 6,000 to 84,325 owing to increased digitalisation in the March quarter and it expects the trend to continue.

The second largest private lender's senior management hinted this trend of falling staff strength may continue as greater efficiencies set in.


 
HDFC Bank posted an 18.3% rise in net profit in the January-March quarter at Rs 3,990 crore on Friday, beating street estimates.

At Rs 3,990 crore, the bank’s net profit grew 18.3% on higher interest income and income from fees. In the same period last year, HDFC Bank had posted a net profit of Rs 3,374.22 crore.


 
HDFC Bank accounts for one-fourth of all Unified Payments Interface (UPI)-based transactions, Nitin Chugh, head of digital banking, said on Friday. “We are among the top three on UPI and would be somewhere in the range of, probably, one-fourth of the market,” Chugh said.

According to data released by the Reserve Bank of India (RBI), UPI recorded a total of 6.2 million transactions aggregating.


 
Mumbai: When it comes to Sensex stocks, analysts keep their faith in HDFC Bank Ltd.

Data from Bloomberg showed that HDFC Bank, India's most-valued and most profitable bank, was the only stock that featured in the top five most preferred stocks according to analysts’ buy ratings, a year ago and even now. Others in the list were ITC Ltd, Sun Pharmaceutical Industries Ltd, ICICI Bank Ltd and Larsen & Toubro Ltd (L&T).


 
It appears that the investment case for mid-sized banks and non-banking finance companies (NBFCs) is gaining more momentum. Leading foreign brokerage, Morgan Stanley, in a report captioned 'Downgrading the Large Banks; Prefer the Smaller Lenders', flagged off that earnings for the financial stocks may remain weak in FY18 and FY19.

"Return on equity for the sector will struggle and there will be very material divergence in growth of book value per share, which will continue to create divergent stock price performance," the report highlights. What’s interesting is that the investment downgrade undertaken by the brokerage on India’s three largest private banks follows a different rationale in each case.


 
HDFC Bank Ltd is offering loans against shares in about two-three minutes by completely digitising the loan mechanism.

For this, the bank has tied up with National Securities Depository Ltd (NSDL). Shares dematerialised by NSDL and executed through HDFC Bank demat account could be used for pledging. This is a first-of-its-kind initiative in India and probably the first in the world as well. HDFC Bank and NSDL had consulted the Reserve Bank of India (RBI) before developing the product.


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