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HDFC Bank, Mastercard, SAP Concor join hands to manage spending in corporate sector

HDFC Bank, Mastercard, SAP Concor join hands to manage spending in corporate sector

Finance
NEW DELHI: HDFC Bank, Mastercard and SAP Concur have joined hands for spending management services for the corporate sector. HDFC Bank will offer a corporate credit card for business travellers, providing a one-stop solution for payment and expense management during business trips, said a release on Tuesday. "The corporate credit card will enable seamless integration of all business-related spend into SAP Concur offerings, enhancing employee experience, increasing visibility, saving money, and improving corporate efficiency," it said. The card is supported by Mastercard. SAP Concur is a travel, expense, and invoice management solutions provider. Parag Rao, country head (payments business and marketing) of HDFC Bank, said, "Corporates can gain greater insights and control, while ensuring re...
HDFC to tap Egon Zehnder to identify Aditya Puri’s successor

HDFC to tap Egon Zehnder to identify Aditya Puri’s successor

Finance
MUMBAI: India's HDFC Bank will retain global executive search firm Egon Zehnder to find a successor to managing director Aditya Puri, four sources familiar with the matter said, as its board seeks to end an impasse and zero in on a candidate. The board's decision to recruit a global head-hunting firm comes as a six-member internal search committee, appointed in November last year, has not been able to reach a consensus on selecting a successor to Puri, who has been at the helm of the country's largest private lender since its inception in 1994. Puri, whose term comes to an end in October this year, is also an advisor to the search committee tasked with identifying a suitable candidate. "The latest decision to hire a global advisory firm has been taken after the search committee members rea...
HDFC slashes home loan rate by 0.05 per cent

HDFC slashes home loan rate by 0.05 per cent

Finance
NEW DELHI: In line with the country's largest lender SBI, HDFC Ltd on Friday reduced the benchmark lending rate by 0.05 per cent, a move that will bring down interest rate for existing as well new borrowers. SBI earlier this week slashed in its external benchmark-based rate by 25 basis points to 7.80 per cent from 8.05 per cent. "HDFC reduces its Retail Prime Lending Rate (RPLR) on housing loans, on which its adjustable rate home loans (ARHL) are benchmarked by 5 basis points with effect from January 6, 2020," the mortgage lender said in a statement. New rates will now range between 8.20 per cent and 9 per cent, and the change will benefit all existing customers, it said. The rate cut by lenders come despite the RBI keeping its benchmark repo rate unchanged at 5.15 per cent in December mon...
Midcaps, smallcaps to outperform benchmarks in 2020: HDFC Securities

Midcaps, smallcaps to outperform benchmarks in 2020: HDFC Securities

Finance
Mumbai: HDFC Securities Ltd said on Thursday that mid-cap and small-cap indices are most likely to outperform the benchmarks in 2020 after two consecutive years of under-performance. "The markets are getting polarised day-by-day in terms of volumes and market capitalisation. This means that a vast portion of portfolio of retail and high net-worth individual (HNI) investors do not reflect the bullishness displayed by Nifty," said the leading stock broking company. Investors are now selling stocks and mutual funds at a faster pace than earlier in the present age of disruption. One of the reasons for this is also the low difference in tax rates between short-term and long-term capital gains, said HDFC Securities adding that investors are also shaken by frequent changes in the composition of N...
HDFC Bank’s Net banking, mobile app still down. Here’s how to make credit card payments

HDFC Bank’s Net banking, mobile app still down. Here’s how to make credit card payments

Finance
For the third day in a row, many customers are still not been able to access the country's largest private sector lender, HDFC Bank's Internet and mobile banking channels. The bank, responding to customer complaints on social media, attributed the outage to a 'technical glitch' adding that a team of experts constituted by the bank was at work to resolve the breakdown. We apologise that the resolution of the technical glitch is taking more time than anticipated. Our experts are work… https://t.co/OYKf7tQ43g— HDFC Bank Cares (@HDFCBank_Cares) 1575358749000 Though the bank claims to have resolved the issue, many customers are still unable to log in to these channels. According to the bank, normalcy will be restored within the next few hours. A common problem faced by many of i