Specialist in Indian Banking and Economic Research

Hemindra Hazari

Is a Securities & Exchange Board of India (SEBI) registered research analyst with over 25 years experience in the Indian capital markets with a specialization in banking and economy research and has managerial experience of establishing profitable equities business, leading and mentoring analysts.  He has worked with prominent foreign and domestic capital market firms such as UBS, Societe Generale, HSBC, ASK Raymond James  and Karvy Stock  Broking and is a regular guest on business media channels and is respected for his non-consensus view on stocks and the market.

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<p>Customers of HDFC Bank, India’s most valuable and one of the most expensive banks in the world have been hard hit in the ongoing demonetisation saga in India. Depositors of HDFC Bank have been complaining about their inability to withdraw the Reserve Bank of India’s (RBI) stipulated cash withdrawal from their accounts. In the last week this writer, an HDFC Bank account holder has been unable to withdraw any cash from the branch. What is strange is that in other banks in the vicinity where this writer has accounts there is no such impediment and one can comfortably withdraw the stipulated amount. While the general customers of HDFC Bank have been undergoing severe hardships, select high-net worth customers and corporate salary account holders apparently have no such deprivation and therein lies a possible tale of the bank’s ruthlessly efficient business model at a time of national distress.</p>

Customers of HDFC Bank, India’s most valuable and one of the most expensive banks in the world have been hard hit in the ongoing demonetisation saga in India. Depositors of HDFC Bank have been complaining about their inability to withdraw the Reserve Bank of India’s (RBI) stipulated cash withdrawal from their accounts. In the last week this writer, an HDFC Bank account holder has been unable to withdraw any cash from the branch. What is strange is that in other banks in the vicinity where this writer has accounts there is no such impediment and one can comfortably withdraw the stipulated amount. While the general customers of HDFC Bank have been undergoing severe hardships, select high-net worth customers and corporate salary account holders apparently have no such deprivation and therein lies a possible tale of the bank’s ruthlessly efficient business model at a time of national distress.

HDFC Bank

HDFC Bank - Where Is the Cash?