Aditya Puri News

ICICI Bank's MD and CEO Sandeep Bakhshi "voluntarily relinquished" his fixed compensation for FY21. Bakhshi, however, did receive allowances and perquisites amounting to Rs 38.38 lakh. Amitabh Chaudhry, who has been leading the third largest private sector lender Axis Bank, got paid Rs 6.52 crore.

Jagdishan has been with the bank since 1996. His appointment will put an end to one of the most keenly watched successions in the banking industry. Puri is widely credited with building the bank from scratch and leading it for the last 25 years.

This is in contrast with his last year's Rs 2.75 lakh per day salary.

Aditya Puri has been the Managing Director of HDFC Bank since its inception in 1994.

In one of the sharpest comments against prepaid wallets like Paytm, HDFC Bank chief Aditya Puri today said such companies which hold on to customers through cash-backs are loss-making and have "no future".

Even though the RBI left the policy rates unchanged at the last policy meet citing upside risks to inflation, borrowers can expect lower rates going forward with second largest private lender HDFC Bank today saying there is more room for banks to lower lending rates.

Four leading India-born CEOs including Microsoft's Satya Nadella and Mastercard's Ajay Banga who delivered big in taking their companies ahead have featured in Fortune's Businessperson of the Year list topped by Facebook founder Mark Zuckerberg.

Second largest private sector lender HDFC Bank on Thursday reported a 20.2 per cent growth in net profit to Rs 3,239 crore for the three months to June on the back of a healthy rise in core net-interest income, even as the asset quality marginally worsened.

Aditya Puri, the chief executive and managing director of the second largest private sector lender HDFC Bank, has been ranked as the best banking CEO in Asia by the investor community.

HDFC Bank's Aditya Puri saw the maximum jump in remuneration among private bank chiefs in 2015-16, with a 31 per cent growth at Rs 9.73 crore.

Lenders have asked the Reserve Bank to reduce the risk weights on assets while allocating capital down to being at par with the global level, a top banker said Thursday.

Bankers on Thursday said the sharp fall in inflation to 3.78 percent for July has raised hopes of another rate cut by the Reserve Bank at the September review of the policy.

Billionaire industrialist and India's richest Mukesh Ambani has not taken a pay hike for seven years, but his salary is over 205-times that of the median employee remuneration at Reliance Industries Ltd (RIL).

There is "unnecessary negativism" surrounding the Indian economy and the government needs to be given chance to carry out its work as recovery is underway, senior banker Aditya Puri has said.

Hinting at another round of interest rate cuts, private sector lender HDFC Bank's Managing Director Aditya Puri Wednesday said most banks will cut their lending rates by the end of the week.

The second largest private sector lender HDFC Bank Wednesday claimed to have done a global first by launching a mobile phone application that will aggregate merchants' applications and allow users to transfer funds, shop, pay utility bills, book tickets and recharge phones.

Unlike prepaid wallets launched by its competition or non-bank companies, a customer's debit or credit card will be connected to the application and multiple transactions can be carried out on the same.

Currently, HDFC Bank is the second largest lender in the private sector, although it ranks on the top in terms of market valuation ahead of its competitor ICICI Bank.

Once the cost of deposits come down, following the cut in short-term deposits of up to one year maturities, the bank will pass on the benefit to borrowers.

The bank is planning to open 300-400 ATMs and branches each.