HDFC Bank hikes CSR spend by 47% in 2 years
Posted on 25th November 2017 |
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| Shillong: HDFC Bank has increased its corporate social responsibility (CSR) spending by 47% in the past two years. The bank's spending on CSR has gone up from Rs 248 crore in FY16 to Rs 305 crore in FY17 and is expected to touch Rs 365 crore this fiscal. HDFC Bank aims to improve the lives of people in 1,000 villages by March 2019 through its CSR activities, said deputy MD Paresh Sukthankar, while speaking to reporters at the bank's Holistic Rural Development Programme (HRDP) at Umpathaw, a hamlet 60km from Shillong. The programme will focus on improvements in five areas such as education, water and sanitation and financial inclusion. "The 550 inhabitants of Umpathaw now have access to potable water and a smart school with clean toilets," said Nusrat Pathan, head (CSR) at HDFC Bank. The bank's initiatives have brought changes in the lives of over 10 lakh people in 750 villages across 16 states in the country, she added. According to the Companies Act, 2103, corporates have to spend 2% of average profit of previous three financial years under CSR. HDFC Bank had reported a net profit of Rs 14,549 crore (FY17), Rs 12,296 crore (FY16) and Rs 10,215 crore in FY15. Among private companies, HDFC Bank is the third-largest spender in CSR year after Reliance Industries and TCS. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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