The Reserve Bank of India's rate cut in future will not have much of an impact on its net interest margin (NIMs) and HDFC Bank will maintain NIMs in its current range, Jagdishan said.
HDFC Bank approves the sale of Rs 12,500 crore worth of shares in its subsidiary HDB Financial Services through an IPO, including a fresh issue and an offer for sale.
HDB Financial Services is preparing for its public market debut, expected by the end of the current financial year. The listing is expected to unlock additional value for its parent company HDFC Bank.