Hdfc bank

US-based investor rights law firm Rosen Law Firm has announced an investigation of potential securities claims on behalf of shareholders of HDFC Bank following allegations that the bank may have issued materially misleading business information to investors.

HDFC Bank, which issues nearly 150,000 credit cards a month, was directed by the RBI in December to stop issuing fresh cards until it had sorted out its tech problems. The bank also couldn’t launch any new digital initiatives. In February, the regulator appointed an external firm for carrying out a special audit of HDFC Bank’s IT infrastructure. The report was submitted last month.

RBI classifies “home loans” as “infrastructure loans”, circular favorable for merger between HDFC Bank and HDFC The new infrastructure circular from RBI has opened new opened possibilities from HDFC Bank to decide on a route for Rs. 10,000 crore capital raisin plans. http://bit.ly/1n4fK1C

Analysts had expected the stock to see a knee-jerk reaction to the development. Most suggest the fall can be bought into from a long-term perspective

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The HDFC QIP is aimed at maintaining shareholding in subsidiary HDFC Bank and bolster capital base to meet the growing demand for home loans

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53 HDFC Bank office photos. A free inside look at HDFC Bank offices and culture posted anonymously by employees.

53 HDFC Bank office photos. A free inside look at HDFC Bank offices and culture posted anonymously by employees.

HDFC joins the chain of banks announcing lending rate cuts. Rates across the banking system have been headed south for the last few months, as the RBI and the government work in tandem to push the sagging economic growth.