“Savings account is not a commodity product. We have made it into something special for our customers”
ML: The industry marvels at the way you have been able to extract value from the savings account. Explain to us how this works.
PJN: Our savings account balances have grown at a compounded rate of 71% (the highest in the industry) and we have done this year-on-year. Last year, we grew at 60%. HDFC Bank’s is the second highest in the banking system and it grew at 30%, with around...
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  • Avoid the NFOs

    Distributors and financial planners encourage you to buy NFOs. Their advice is against your interest. Here is why

    The year 2007 has been a quiet one in terms of new fund offers (NFOs). The previous year saw a record number of NFOs hitting the deck. If we look back, it is obvious that there is a correlation between the state of the markets and the number of NFOs getting launched. The moot...

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  • Playing With Fire

    Lotus India is launching a fund that resembles a hedge fund in terms of risk. How did the regulator allow it?

    Lotus is launching a new fund that is amazingly daring in its investment strategy. Innocuously called Lotus India Equity Fund, it is just a wrong product for ordinary investors for a variety of reasons. The scheme will follow a focused stock selection approach. This means concentrated...

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