Latest news with #SVaidyanathan
Time of India
21-07-2025
- Business
- Time of India
HDFC Bank CFO explains the fall in fee-based income in Q1, expects cost of funds to stabilise
S Vaidyanathan , CFO, HDFC Bank , says the bank's Q1 aligns with past trends, experiencing a seasonal dip in third-party distribution fees, particularly in insurance. The cost of funds decreased by approximately 10 basis points, while loan yields dropped by 20-22 basis points due to market benchmark loans repricing faster. I want to understand your fee income part which on a year-on-year basis has increased to 76 billion. But quarter-on-quarter, there has been a decline. In fact, after September, it has remained over and above 81 billion. So, is it only seasonality or something else? S Vaidyanathan: The Q4 is typically quite strong in seasonality, particularly from third-party distribution fees. Normally, the season for insurance is quite high in the country around the January to March period and then it starts to pick up after the first quarter. So, the first quarter is low, and this year's first quarter has been in line with the past trends. Explore courses from Top Institutes in Select a Course Category Cybersecurity Operations Management Data Science Product Management CXO others PGDM Management Artificial Intelligence Project Management MBA healthcare Finance Design Thinking Public Policy MCA Healthcare Others Leadership Technology Data Analytics Digital Marketing Data Science Degree Skills you'll gain: Duration: 10 Months MIT xPRO CERT-MIT xPRO PGC in Cybersecurity Starts on undefined Get Details Also, you mentioned the cost of funds. Your yield on assets have come down as well. The cost of funds has come down after a long time. How do you see them throughout the year, if you can give some kind of guidance? S Vaidyanathan: The cost of funds has come down about by 10 basis points or so in this quarter. The yield on loans has come down, call it about 20-22 basis points this quarter. There are market benchmark loans, which are the floating rate loans. These floating rate loans are repriced faster than the cost of funds pricing and that is why we are seeing a lead effect coming from yield going down. So it has to stabilise. From here, the rate has to stabilise. We saw one more rate reduction of 50 basis points from RBI in June and so that has to factor in fully yet. It is not fully factored in yet. Over the next quarter, it will factor that in. The cost of funds is a managed cost of funds and our bank and other banks determine and offer savings rates and time deposit rates appropriately. We competitively price these deposits, and the market has not fully priced in the reduction of the policy rates which is 100 basis points down from February to June. The cost of funds or the deposit rates have not yet fully factored in the 100 basis points and once that comes in, then we will have to wait and see based on the renewal tenors and the new bookings come in at the lower rate. There is a path for it and the path will be a few quarters out. Live Events You Might Also Like: HDFC Bank Q1 Results: PAT rises 12% YoY to Rs 18,155 crore, NII up 5%; special dividend of Rs 5 per share declared Corporate and wholesale book is showing muted growth. I want to get guidance on that front. What does the on-ground situation look like? S Vaidyanathan: It is very similar to what we talked about last time, that the larger corporates are quite liquid, highly rated and pretty strong on their balance sheet. That means the yield that one could get from that is lower and we have seen competition from certain segments of the financial system where the rates are pretty low. They offer very low rates and consequently while we like the quality, we have been selective in offering and waiting for the rates. At least the rates that the banks are offering to larger corporates are stable and even in this quarter, we have seen that while the credit spreads widened by between 10 and 15 basis points depending on a AA or a AAA, the loan yields have continued to come down. It is something that we manage on a close relationship basis with corporates to participate not just on lending as a value proposition but overall relationships which are non-fund based as well as employee and the SME segment distribution and supply chain segment, very holistic relationships. You Might Also Like: HDFC Bank shares gain 2% on 12% YoY profit jump. Is it time to buy? HDFC Bank announces first ever bonus share issue at 1:1 ratio
Time of India
17-07-2025
- Health
- Time of India
Lighter IIT-M wheelchair costs 1/3rd of existing models
Chennai: A wheelchair developed by IIT Madras that is 50% lighter than similar existing models and costs one third of them was launched on Wednesday. Named YD One, after the late paraplegic rehabilitation advocate S Vaidyanathan, the wheelchair is made of aerospace-grade aluminium and can be customised to suit a user's body, posture, and daily mobility needs. Weighing 8.5kg, YD One was developed by engineers at the TTK Centre for Rehabilitation Research and Device Development (R2D2) at IIT-M in collaboration with users and clinicians. It can support up to 120kg and is designed to be easy to lift, handle, and stow in cars, autos, or public transport. It can also be used by beginners taking up sports. The institute transferred the tech to Thryv Mobility, an IIT-M incubated startup, for commercial manufacturing. The wheelchair is expected to retail at under 75,000, nearly one-third the cost of similar wheelchairs in international markets. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai Prof Sujatha Srinivasan, head of R2D2, said in a video message, "YD One is the seventh product from our centre. Our products offer unique advantages globally. We are proud to work with passionate startups to offer affordable choices." Justin Jesudas, co-founder of Thyrv Mobility, said the wheelchair features a mono-tube rigid frame with an ISO-specified load capacity of 120kg. It passed two lakh double drum test cycles and 6,666 drop tests. The wheelchair was unveiled by Surgeon Vice Admiral Anupam Kapur, Director General Hospital Services (Armed Forces), in the presence of IIT-M Director V Kamakoti. At present, many rely on heavy, poorly fitted hospital-style wheelchairs designed for short-term indoor use, often requiring assistance. Among the 20 early users present at the event was M Jennifer Sheeba, 38, a basketball and table tennis player. "Hospital-style wheelchairs limited my movement, and I often needed help to get around. With YD One, I can move independently; I can even climb stairs," she said.
