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HDFC Bank’s Advances in June Jumps 15.8% To Rs 16,155 Billion

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HDFC Bank’s advances aggregated to approximately Rs 16,155 billion as of June 30, with a growth of 15.8 per cent in comparison to Rs 13,951 billion as of June last year, the company announced through an exchange filing. Gross of transfers through inter-bank participation certificates and bills rediscounted, the Bank’s advances grew by around 20.2 per cent over June 30, 2022 and around 1.9% over March 31, 2023.

HDFC Loans

HDFC Bank’s domestic retail loans saw a growth of 20 per cent and the commercial, rural banking loans grew by 29 per cent and corporate and other wholesale loans went up 11 per cent.

HDFC Deposits

The Bank’s deposits aggregated to approximately Rs 19,130 billion as of June 30, 2023, a growth of around 19.2 per cent over Rs 16,048 billion as of June 30, 2022 and a growth of around 1.6 per cent over Rs 18,834 billion as of March 31, 2023.

Retail deposits in June increased by approximately Rs 380 billion during the quarter and grew by around 21.5 per cent over June 30, 2022. The wholesale deposits of HDFC saw a growth of 9 per cent over June 2022.

HDFC Banks CASA

Bank’s CASA deposits aggregated to approximately Rs 8,130 billion as of June 30, 2023, a growth of around 10.7 per cent over Rs 7,346 billion as of June 30, 2022 and were lower by around 2.7 per cent over Rs 8,360 billion as of March 31, 2023. Retail CASA grew by around 11 per cent over June 30, 2022 and was lower by around 2 per cent over March 31, 2023. The Bank’s CASA ratio stood at around 42.5 per cent as of June 30, 2023, as compared to 45.8 per cent as of June 30, 2022, and 44.4 per cent as of March 31, 2023.

During the quarter ended June 30, 2023, the Bank purchased loans aggregating Rs 116.32 billion through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Limited

National

Bengal Police unnecessarily creating panic over Ram Navami: BJP

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Kolkata, April 2: A senior leader of BJP from West Bengal, on Wednesday, accused the West Bengal Police of creating unnecessary panic among common people over the forthcoming Ram Navami festival.

BJP’s former national vice-president and former party Lok Sabha member Dilip Ghosh said that the decision of the police authorities to cancel the leaves of all cops, except for emergency reasons, from April 2-9 was unnecessary.

“Such panic-driven decisions are prompted only during Hindu festivals. The police should take care of those who create trouble. Hindus are well organised and they perform their religious rituals peacefully. Lakhs of people participate in Durga Puja, and no tension is created. It has become a habit of the ruling party to create tension and panic,” Ghosh said.

He also said that the chances of untoward incidents over the Ram Navami processions will not be there if the police strictly handle those who want to create tension on the occasion.

Last week, two senior officials of West Bengal Police told media persons that they have got specific intelligence inputs on some vested interests trying to instigate violence in the coming days, especially targeting the forthcoming Ram Navami festival.

“There are plans to instigate people through different posters or posts. The police are on alert. There might be attempts to instigate tension among people from different communities, especially focusing on the occasion of Ram Navami. We requested people not to get instigated. There is no need to worry. But at the same time, we also request people to alert the local police in case they notice any suspicious activities in their respective areas,” said Additional Director General (South Bengal) Supratim Sarkar on March 29.

Recently, there were reports of communal clashes from Mothabari in Malda district.

Recently, the Leader of the Opposition in West Bengal, Suvendu Adhikari, said at least 2,000 rallies, big and small combined, will be brought out on the occasion of Ram Navami this year.

He also said that participants at the rallies on Ram Navami this year will be double compared to last year.

“Ram Navami will be celebrated this year in a major way. I will be there on the streets on that day. Last year, around 50 lakh Hindus were on the streets to participate in rallies on the occasion of Ram Navami. Last year, there were 1,000 rallies. This year there will be 2,000 rallies and around one crore Hindus will participate in those rallies this year,” he claimed.

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International

Man rescued in Myanmar’s Nay Pyi Taw five days after earthquake

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Yangon, April 2: A 26-year-old hotel staff member was rescued from the rubble of a collapsed hotel building in Myanmar’s Nay Pyi Taw on Wednesday, five days after the 7.7-magnitude earthquake struck the country, according to the State Administration Council’s information team.

Two people were trapped under the debris, and rescue teams from the Myanmar Fire Services Department and Turkey successfully pulled one survivor to safety, the information team said.

The operation at the hotel began at around 3:00 p.m. local time on Tuesday, and the man was rescued by approximately 00:30 a.m. local time on Wednesday, it said.

Efforts are ongoing to locate and rescue the remaining trapped individuals, media reported.

The death toll from the 7.7 magnitude earthquake in Myanmar has risen to 2,719, with approximately 4,521 people injured and 441 others still missing, said the country’s Prime Minister Min Aung Hlaing.

Meanwhile, Aung Hlaing, head of Myanmar’s junta, rejected ceasefire proposals from Ethnic Armed Organisations (EAOs) and declared a continuation of military operations.

This move directly affects humanitarian efforts as the casualties from the devastating earthquake escalate.

“Some ethnic armed groups may not be actively engaging in battles right now, but they are gathering and training in preparation for attacks. Since this is a form of aggression, the military will continue necessary defence operations,” Hlaing said during a fundraising event in Naypyidaw on Tuesday.

A powerful 7.7 magnitude earthquake, followed by a 6.4 magnitude aftershock minutes later, struck Myanmar’s Mandalay region on Friday, causing massive casualties and damage.

Myanmar announced on Monday a week-long mourning period following the earthquake that struck the nation and wrought widespread destruction.

As the earthquake left entire communities in ruins, reports suggest that concerns have arisen about the potential for Myanmar’s military junta to direct humanitarian funds to affected areas. It is stated that supplies are driven to the areas the junta favours rather than those most in need of help.

The United Nations and international aid organisations are struggling to respond to the devastating earthquake, which destroyed several cities such as Mandalay, Sagaing, and Naypyitaw, and displaced tens of thousands of people. The hospitals are trying to cope with the high influx of patients.

However, the United Nations, the US, India, the European Union, and several other nations and international organisations have sent aid and rescue efforts for earthquake victims in Myanmar.

The Indian Army and Navy mobilised their resources with unwavering resolve, providing both immediate rescue support and long-term aid to the affected communities.

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National

Maha govt transfers seven bureaucrats in a minor reshuffle

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Mumbai, April 2: In a minor reshuffle, the Maharashtra government on Wednesday transferred seven bureaucrats.

Nishi Pandey, an IAS officer of the 2001 batch, has been posted as Managing Director of Maharashtra Small Scale Industries Development Corporation.

Laxminarayan Mishra, an IAS officer of the 2012 batch, has been posted as Joint Managing Director of Maharashtra State Road Development Corporation.

Bharat Bastewad, an IAS officer of the 2013 batch and CEO of Raigad Zilla Parishad, has been appointed Commissioner of the Mahatma Gandhi National Rural Employment Guarantee Scheme at Nagpur.

Indurani Jakhar, an IAS officer of the 2016 batch, who is the Municipal Commissioner of Kalyan-Dombivali Municipal Corporation, has been posted as Collector, Palghar district.

Vasumana Pant, an IAS officer of the 2017 batch, who is Director General, VANAMATI, Nagpur, has been posted as Additional Municipal Commissioner, Nagpur Municipal Corporation.

Vaishnavi B, an IAS officer of the 2019 batch, who is Chief Executive Officer, Akola Zilla Parishad, has been posted as Additional Municipal Commissioner, Nagpur Municipal Corporation.

Neha Bhosle, an IAS officer of the 2020 batch, has been posted as Chief Executive Officer, Raigad Zilla Parishad.

Earlier, on March 25, the state government transferred five IAS officers.

The state government posted B. H. Palawe, an IAS officer of the 2013 batch, who is Chief Executive Officer, Zilla Parishad, Palghar, as the Managing Director, Maharashtra State Financial Corporation, Mumbai.

Manoj Ranade, an IAS officer of the 2014 batch and the Director of Municipal Administration, Mumbai, was appointed Chief Executive Officer, Zilla Parishad, Palghar.

Shubham Gupta, an IAS officer of the 2019 batch and the Municipal Commissioner of Sangli-Miraj-Kupwad City Municipal Corporation, was posted as Member Secretary, Vidarbha Statutory Development Board, Nagpur.

Anjali Ramesh, an IAS officer of the 2020 batch, after transfer of cadre from Madhya Pradesh, was appointed Chief Executive Officer, Zilla Parishad, Hindoli.

Zenith Chandra Deonthula, an IAS officer of the 2022 batch, who is Assistant Collector, Varora Sub-Division, Chandrapur, was posted as Project Officer, ITDP, Kinwat, and Assistant Collector, Kinwat Sub-Division, Nanded.

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