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HDFC Bank Investigation! Accused of not following proper approach to loans

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The Bank’s Vehicle Financing Branch has been accused of not following proper approach to loans and conflict of interest, which has been investigated by an internal committee of the bank itself. After the news, HDFC shares fell 2.26 per cent to Rs 1080.40 on Monday.

  • There are allegations of disturbances in the vehicle loan unit of the bank

  • An internal committee of HDFC Bank investigated this

In terms of market capital in the country, the biggest private sector HDFC bank has also come to light. The vehicle loan lending unit of the bank has complained of ‘non-compliance of proper approach to loan’ and the internal committee of the bank has investigated it.

According to a Bloomberg report, the bank’s vehicle financing arm has been accused of ‘non-compliance with loans’ and ‘conflict of interest’, which has been investigated by an internal committee of the bank.

After the news, HDFC Bank shares fell 2.26 per cent to Rs 1080.40 on Monday. HDFC Bank shares closed at Rs 1105 on Friday. It is worth noting that before this, loan scams have come to light in many banks like PNB, Yes Bank. Therefore, any such news makes investors and customers very alert.

Unit head Ashok Khanna’s tenure did not increase

The bank has not yet made public any information about the progress made in this investigation. The tenure of Ashok Khanna, who was the head of this unit for nearly 18 years, was not extended, whereas earlier this was proposed. About 10 percent of the total loan of HDFC is distributed through this unit.

On the other hand, HDFC Bank says that there is no issue of loan disturbances in this investigation. The bank issued a statement saying, ‘The executives who are being talked about, they were already in service expansion and retired on March 31, 2020 in a normal manner. Whatever complaint comes, the bank has a well established procedure for its investigation and appropriate action is taken accordingly. The bank has also taken appropriate action in the said case. We would like to reiterate that we always adhere to high standards of governance.

A senior HDFC Bank official said, “Actually, there is no such issue as discussed in the Bloomberg report. The executive who is being talked about, his term was over. People were hoping that they would be given extensions, but they retired according to the rules. The investigation that is going on has nothing to do with any loan disbursement, rather it is about ethics. There was some complaint related to ethics, which has been properly investigated by the bank committee.

1.2 lakh crore total auto loan

According to Bloomberg, the vehicle loan unit of HDFC Bank had given a loan of about Rs 1.2 lakh crore as of March 31, 2020.

It was earlier proposed that Khanna’s tenure be extended for at least six months by October. But according to the 63-year-old Khanna Contract, he retired from the bank in March itself. Earlier, Khanna was due to retire in 2017, but then he was given service extension, because vehicle loan unit is very important for the bank. Khanna did not comment on the investigation and said that he has retired according to his contract.

Aditya Puri, the current managing director of HDFC Bank, is about to retire and this inquiry has probably been done in such a way that the bank’s image does not get discounted before he retires.

HDFC Bank MD and CEO Aditya Puri is the highest paid banker in India. He is retiring in October. Puri established the private sector HDFC Bank in India in the nineties. He came from Malaysia to leave a good job at Citibank. In nearly two decades, Puri took the bank forward and made it the lowest NPA bank, keeping it profitable.

ENTERTAINMENT

Ali Al Sayed: Dubai’s Comedy King Leading a Laughter Revolution

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Ali Al Sayed is Dubbed by many Dubai’s “King of Laughter,” he has transformed the face of entertainment in the UAE and far beyond. From Dubai to New York, across continents and stages, his career is that of not just a comedian but some kind of explorer in the world of stand-up comedy, setting new standards for Middle Eastern comedy.

The way Ali Al Sayed started from local comedian to international sensation was nothing less than inspiring. Born and raised in Dubai, Ali has grown into a beacon of comedy in the region, using wit both humorously and with cultural sensitivity. It was not only his remarkable talent that brought him the title of “King of Laughter,” but also recognition from prestigious organizations like Toastmasters International, naming him among the most influential comedians in the world. Ali’s impact on the UAE comedy platform goes really deep. He co-founded Viva Arts, is a co-director at Dubomedy Arts-the first Comedy and Urban Arts School in the MENA region-and has played an imperative role in nurturing a strong standup comedy culture in Dubai. At Dubomedy Arts, workshops and performances are a showcase for a convened convergence of different talents from all over the world and have made Dubomedy Arts a pillar among budding comedians. In his work, Ali made sure that all emerging comedians got a platform to develop their work.

Having shared the stage with some of the respected names in comedy-D Dean Edwards from SNL, Maz Jobrani, and Tommy Davidson from ‘In Living Color’-Ali does not stop at punchlines but articulates his professed expertise in touching on profound cultural nuances that can keep any group of people glued to their chairs. Whether it is some local gig in Dubai or an international platform where he performs, the humor in Ali is relatable yet incisive. His impact does not stay contained within stand-up performances. He has been behind the production and hosting of several events, such as the first and only weekly Comedy and Variety Night in the UAE, ‘Monday Night Funnies,’ and the DUBOMEDY International Performing Arts Festival, also known as DIPAF. These have been the events that bring together the various cultural groups in the region and, thus, showcase a wide array of performing talents.

His achievement includes pioneering work with ‘Funny Girls, the first all-female stand-up comedy troupe and tour in the MENA region. It was an incredible start to empowering women in comedy to take center stage and allow their voices and stories to be shared. This could be deeply said of Ali, whose commitment to the arts of inclusion seeks to make a space continuously where inclusivity is celebrated. Ali’s talent and influence are internationally recognized: he has performed at the Edinburgh Festival Fringe, the New York Arab-American Comedy Festival, and at the Muslim Funny Fest in New York City. Events of such prestige have served only to raise his profile as a comedian but also to bring out the richness of Middle Eastern humour to audiences that are primarily Western.

Ali has made numerous television appearances and grown to be one of the most recognizable figures on and off the air. From Abu Dhabi TV to Dubai One TV to MBC, he has appeared on them all, building up a grassroots following with his comedic commentary about current events. On Abu Dhabi Sports TV’s show “The Beautiful Game,” being such a varied comedian, writer, and performer is shown.

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ENTERTAINMENT

Day Care Activities for Toddlers: Fun and Educational Ideas

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When it comes to daycare, one of the key goals is to provide a nurturing and stimulating environment for toddlers. This holds particularly true for places like Ermington, a vibrant suburb located in Sydney, Australia. Nestled in the heart of Ermington, daycare centres strive to engage toddlers in fun and educational activities that keep them entertained and promote their overall development. This article will explore a variety of activities that Ermington daycare providers incorporate into their daily routines to make learning enjoyable for the little ones.

Sensory Play: Stimulating the Senses

Toddlers are naturally curious and love exploring the world through their senses. Sensory play activities are perfect for engaging their senses while promoting cognitive and physical development. Set up a sensory station with various materials like sand, water, rice, or play dough, and let the children dive in. Encourage them to touch, feel, and manipulate the materials, fostering their fine motor skills and creativity.

Artistic Adventures: Unleashing Creativity

Toddlers have vivid imaginations and innate creativity waiting to be unleashed. Art activities are not only enjoyable but also help enhance their fine motor skills, hand-eye coordination, and self-expression. Supply them with non-toxic crayons, markers, finger paints, and large sheets of paper. Let them experiment with colours and textures as they create their own masterpieces. Display their artwork in the daycare space to boost their self-esteem and sense of accomplishment.

Storytelling and Puppet Shows: Developing Language Skills

Reading and storytelling are essential for language development in toddlers. Create a cosy reading corner with a variety of age-appropriate books and invite the children to join you for storytelling sessions. Engage them using puppets or finger puppets to bring the stories to life. Encourage active participation by asking questions and allowing them to retell the stories in their own words. This activity develops language skills and fosters imagination and emotional intelligence.

Music and Movement: Grooving and Growing

Music has a magical effect on toddlers, captivating their attention and energising their spirits. Incorporate music and movement activities into your daycare routine to promote physical coordination, rhythm, and social skills. Play lively songs and encourage the children to dance, jump, or clap their hands to the beat. Provide musical instruments like shakers, tambourines, or drums to enhance their sensory experience. This activity fosters a sense of joy and togetherness while aiding in their gross motor skill development.

Nature Exploration: Connecting with the Outdoors

Spending time in nature is not only refreshing but also offers endless opportunities for learning. Take the toddlers on nature walks around the daycare facility or nearby parks. Encourage them to observe plants, animals, and natural elements. Create nature-inspired art projects by collecting leaves, flowers, or rocks. This activity enhances their curiosity and appreciation for the environment and stimulates their senses while promoting physical activity.

Puzzles and Games: Sharpening Cognitive Skills

Puzzles and games are excellent tools for developing problem-solving skills and cognitive abilities in toddlers. Provide age-appropriate puzzles with varying difficulty levels to challenge their thinking. Play simple board games that involve counting, matching, or memory skills. These activities enhance their concentration, spatial awareness, and logical thinking while encouraging social interaction and turn-taking.

Incorporating fun and educational activities into the daily routine of an Ermington daycare centre not only keeps toddlers engaged and entertained but also promotes their holistic development. Sensory play, art activities, storytelling, music and movement, nature exploration, puzzles and games, and dramatic play are just a few examples of the countless possibilities for engaging young minds. By providing a nurturing environment that stimulates their curiosity and creativity, daycare providers play a crucial role in laying the foundation for a lifetime of learning and growth.

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ENTERTAINMENT

Arunima Kumar, Preserving India’s Rich Cultural Heritage Through Dance and Arunima Kumar Dance Academy

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Arunima Kumar

Arunima Kumar is a renowned Indian classical dancer and the founder of the Arunima Kumar Dance Company. With a career spanning over two decades, Kumar has dedicated herself to preserving India’s rich cultural heritage through dance and sharing it with audiences around the world.

Kumar began learning dance at a young age and trained in a variety of Indian classical dance styles, including Bharatanatyam, Kuchipudi, and Kathak. She quickly gained recognition for her talent and was awarded a scholarship to study dance in London. It was there that she founded the Arunima Kumar Dance Company in 2004 with the aim of promoting Indian classical dance and music.

The Arunima Kumar Dance Company is renowned for its innovative and dynamic performances that blend traditional Indian classical dance with contemporary elements. Kumar’s choreography combines intricate footwork, expressive gestures, and vibrant costumes to create a mesmerizing and unforgettable experience for audiences.

In addition to her performances, Kumar is also committed to passing on her knowledge and passion for Indian classical dance to the next generation. She has established a dance academy in London where she teaches students of all ages and backgrounds. Through her teaching, she hopes to inspire others to appreciate the beauty and richness of India’s cultural heritage.

Kumar’s dedication to promoting Indian classical dance has earned her numerous awards and accolades. She has been recognized as a leading artist in her field by the Indian Council for Cultural Relations and has been awarded the prestigious Women Achievers Award by the Indian High Commission in London.

Through her work with the Arunima Kumar Dance Company, Arunima Kumar is not only preserving India’s rich cultural heritage, but also sharing it with audiences around the world. Her innovative choreography and dynamic performances have captivated audiences in countries such as the United Kingdom, United States, and India, and her commitment to teaching and passing on her knowledge to the next generation ensures that this cultural legacy will continue to thrive for years to come.

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