HDFC Bank reported fairly strong quarterly results over the weekend, but shares of the country s largest private sector lender declined over 1 per cent on Monday afternoon. This even as the broader BSE Sensex was up 0.5 per cent.
Banks in India wrote off bad loans worth ₹2.09 lakh crore in FY23, bringing the total loan write-offs by the banking sector to ₹10.57 lakh crore in the past five years.
The transaction marks several milestones as it is the largest social loan globally and the first social ECB loan out of India and that too from a Housing Finance Company
Read more about HDFC cuts interest rate on home loans by 5 basis points from March 4 on Business Standard. The revised rate of 6.75% comes into effect today