Aditya Puri, Managing Director of HDFC Bank Ltd
HDFC Bank Ltd., has partnered with Federation of Retail Traders Welfare Association (FRTWA), a trade body representing shop owners, to offer Cash Withdrawal facility at over 50 large, prominent retail stores across Metros. Customers can withdraw cash at these stores by swiping their Debit cards using the PoS machines deployed at the stores. Some of these stores are Roopam, Benzer, Amarsons, Kalaniketan, Premsons, Asiatic, Libaz, Seasons, Roopmilan, Metro, Catwalk, and Mochi. These stores will use cash collected from their sales for the withdrawals. The withdrawal limit has been capped at Rs 2,000 to cater to as many people as possible. “HDFC Bank is delighted to partner with the Federation of Retail Traders Welfare Association (FRTWA) to enable cash withdrawal facility at some of the large member stores across Metros. The Bank has deployed PoS machines at the stores to help customers withdraw cash using their Debit cards. This initiative will help the masses easily withdraw cash and
reduce their inconvenience,” said Mr. Parag Rao, Head – Card Payment Products, Merchant Acquiring Services, and Marketing, HDFC Bank. “We are happy to make our contribution in reducing the inconvenience faced by the general public. We thank HDFC Bank for providing PoS machines to our member stores. General public, particularly in the Metros will greatly benefit from this facility,” said Mr. Viren Shah, President, Federation of Retail Traders Welfare Association (FRTWA). Federation of Retail Traders Welfare Association (FRTWA) is a trade body representing shop owners in Mumbai. Over 2 lakh small, medium and large store owners are its members. In addition to this facility, customers can also use UPI, PayZapp, Chillr, MobileBanking, MobileBanking Lite app, and NetBanking for their financial transactions.
HDFC Bank MD Aditya Puri on Fortune Businessperson of the year list
Mr. Aditya Puri, Managing Director of HDFC Bank Ltd., has been featured in Fortune Businessperson of the year list, an annual ranking of world's top 50 heads of companies. At 36th position, Mr. Puri is the only head of an Indian company on the coveted list. In its 7th edition, the list is led by Facebook's Mr. Mark Zuckerberg. A host of global heavyweights such as Mr. Jeff Bezos of Amazon, Ms. Mary Dillion of Ulta Beauty, Mr. Larry Page of Alphabet, and Mr. Satya Nadella of Microsoft make up the top 5 in that order. Alibaba's Mr. Jack Ma (10th), Apple's Mr Tim Cook (11th), Netflix's Mr Reed Hastings (13th), and Uber's Mr. Travis Kalanick (15th) are some other formidable names in the list. “The author of a book about India’s second largest private bank has described it as ‘boring and steady.’ In a financial institution, that’s a good thing,” the magazine writes in its report. “But under managing director Aditya Puri, who has led HDFC Bank for two decades, there’s been nothing boring about its growth, from a pipsqueak with $40 million in revenues to one of India’s largest banks, with $5.6 billion. It turned those revenues into an impressive $1.9 billion in profits last year. HDFC’s U.S. ADRs enjoyed a 15-year run that took them up a cumulative 2200% before easing off of late.” Mr. Puri has been the Managing Director of HDFC Bank since its inception in 1994. During his 21 years at the helm, he has created a culture of excellence in the bank. A great advocate of technology and
convenience banking, he is credited with using technology to change the way banking is done in India. The magazine looked at 10 metrics to compile this year’s Businessperson of the Year list. It includes financial metrics like results over 12-month and 36-month periods, stock performance, total shareholder returns and non-financial ones such as business influence, leadership style, and strategic initiatives. About HDFC BANK Promoted in 1995 by Housing Development Finance Corporation (HDFC), India's leading housing finance company, HDFC Bank is one of India's premier banks providing a wide range of financial products and services to its 37 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking. Within a relatively short span of time, the bank has emerged as a leading player in retail banking, wholesale banking, and treasury operations, its three principal business segments. The bank’s competitive strength clearly lies in the use of technology and the ability to deliver world-class service with rapid response time. Over the last 20 years, the bank has successfully gained market share in its target customer franchises while maintaining healthy profitability and asset quality. As of September 30, 2016, the Bank had a distribution network with 4,548 branches and 12,016 ATMs in 2,587 cities/towns. For the quarter ended September 30, 2016, the Bank’s total income was INR 199.70 billion (Rs 19,970.9 crore) as against INR 173.24 billion (Rs 17,324.3 crore) for the quarter ended September 30, 2015. Net revenues (net interest income plus other income) were INR 108.94 billion (Rs 10,894.5 crore) for the quarter ended September 30, 2016, as against INR 92.32 billion (Rs 9,232.7 crore) for the corresponding quarter of the previous year. Net Profit for the quarter ended September 30, 2016, was INR 34.55 billion ( Rs 3,455.3 crore), up by 20.4% over the corresponding quarter ended September 30, 2015. Total income for the year ended March 31, 2016, was INR 709.73 billion (Rs 70973.2 crore). Leading Indian and international publications have recognised the bank for its performance and quality.