HDB Fin Services to raise Rs 2.5k cr via debt capital

11 Mar 2024 CW Team

HDB Financial Services, a subsidiary of HDFC Bank, is planning to raise about Rs 2,500 crore of debt capital to support business growth. The subordinated debt is to the tune of Rs 2,000 crore while perpetual debt is nearly Rs 500 crore.

After witnessing asset quality pressures in the aftermath of the Covid-19 pandemic, the finance company has improved its risk profile and health to support sustained growth in loan book.

Rating agency CRISIL has assigned a ?AAA? rating to both instruments. The rating reflects an established presence in the retail finance space, its healthy capitalisation, and expectation of continued support from its parent and majority owner HDFC Bank, CRISIL said.

The non-banking finance company?s gross stage III, also known as bad loans assets, reduced to 2.25 per cent in December 2023 from 2.73 per cent in March 2023 and 4.99 per cent in March 31, 2022. The reduction was supported by write-offs and lower slippages. The company has maintained stage III provision cover of 68 per cent as of December 31, 2023.

The unit of HDFC Bank is one of the larger players in the retail financing space. Its asset under management (AUM) rose to Rs 83,989 crore as of December 31, 2023, from Rs 70,084 crore as of March 31, 2023 and Rs 61,444 crore as of March 31, 2022.

Infrastructure Urban

13 Mar 2026

Implementation Status of Jal Jeevan Mission

Since August 2019 the Government has implemented Jal Jeevan Mission to provide assured potable water through household tap connections in rural India. At the start of the mission only 32.3 million (mn) rural households, representing 16.7 per cent, were reported to have tap water connections. States and union territories have reported that 125.8 mn additional rural households have since been provided with tap connections. As a result, of about 193.6 mn rural households roughly 158.2 mn, or 81.71 per cent, are reported to have tap water supply at home.\n\nThe State, district and village level st..

Jal Jeevan Mission Reaches Eighty One Per Cent Rural Coverage

The Government reported substantial progress under the Jal Jeevan Mission, launched in August 2019 to provide tap water to every rural household. At launch only 32.3 million (mn) rural households had tap connections and states and Union territories reported provision of 125.8 mn additional households by March 2026. Consequently, out of about 193.6 mn rural households around 158.2 mn, or 81.71 per cent, are reported to have tap water at home. The Finance Minister announced extension of the mission until 2028 in the 2025-26 budget speech. The Swachh Bharat Mission Grameen, launched in October 20..

Empowering Local Governance for Sustainable Rural Water Supply

The Ministry of Jal Shakti has aligned the Jal Jeevan Mission (JJM) with the 73rd Amendment to strengthen village level planning and community ownership of water supply. Gram Panchayats, village water and sanitation committees and Pani Samitis are to plan, implement, manage and maintain piped water systems, with gram sabha processes formalising handover and oversight. Implementation support agencies including non government organisations, community based organisations and self help groups have been empanelled to train local committees and promote women participation. Under JJM, the department ..