HDFC Bank raises bets on GenAI for productivity gains
The bank, said Jagdishan, has transitioned from pilot projects to centralised, 'platform-driven GenAI strategy' for improving staff productivity and customer service. The bank has also launched a GenAI Academy to accelerate capability in generative AI.
'As GenAI becomes central to both current and future organisational capability, we are investing in developing skills in this space through a structured academy model, offering robust curriculum and tiered proficiency levels,' he said.
Mint reported in December that banks like SBI, Bank of Baroda, Axis Bank, and HDFC Bank are developing targeted AI use cases through internal teams and external experts. Experts had then pointed out that the rise of AI in Indian banking was a long time coming.
Traditionally, banks were going to tech services firms to deploy such technologies, but today, as the tech ramps up, they have become one of the biggest recruiters of engineering talent.
Jagdisdhan said that with rising threats like phishing, deepfakes, and impersonation scams, the bank has upgraded to the next generation cybersecurity operations centre (CSOC), powered by AI and machine learning capabilities.
He added that the bank also checks their systems regularly for any weakness through vulnerability assessment and penetration testing programmes to monitor all digital entry points to manage exposure. 'This also ensures the software is always up to date and strengthens protection against email-based attacks,' he said.
The bank's 'Vigil Aunty' (VA) campaign, which educates customers on safe banking practices, said Jagdishan, is an example of how cybersecurity is about user awareness and tech infrastructure.
'We remain focused on being a cyber resilient, regulatorily compliant and trusted institution that can adapt and succeed in the emerging risk landscape,' he said.
Cybercrimes have again come to the fore on the back of what is referred to as digital arrest crimes. Rising incidents of digital arrest—an online scam in which perpetrators extort money from victims by impersonating high-ranking law enforcement officials and threatening arrests and other legal actions—over the past two years have caused a huge amount of money being stolen from personal accounts, with attackers often being based in other nations.
Mint reported on 14 July how a precedent-setting digital arrest hearing at India's top consumer court last Monday put the spotlight on banks' potentially heightened liabilities and responsibilities towards their customers amid a surge in digital arrest crimes in the country.
Meanwhile, during FY25, the bank expanded its branch network by more than 700, reaching a total of 9,455 branches as of 31 March. Over the past four years, HDFC has fully digitised most of its retail and MSME acquisition and service journeys, said Jagdishan.
The bank's results for FY25 represented the first full year of operations since the merger when it took into its fold erstwhile parent and mortgage behemoth Housing Development Finance Corp. (HDFC) on 1 July 2023. The bank's balance sheet expanded over 8% to ₹ 39.1 trillion in FY25.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Hindustan Times
19 minutes ago
- Hindustan Times
Trump tariffs on India Live: 25% duty announced, plus penalty for buying Russian oil
Live By US President Donald Trump announced 25% tariffs on Indian imports US President Donald Trump of Wednesday ended weeks of suspense over how much tariffs American would impose on Indian imports. Announcing 25 per cent tariffs and a 'penalty' for buying Russian oil and arms, Trump said, 'They India) have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD!' ...Read More He also mentioned India's 'far too high' tariffs for the US as he explained his rationale behind slapping the tariffs against India. Trump's announcement came just two days before August 1, his reciprocal tariff deadline. Trump said the tariffs announced for India will come into force on that day.


Time of India
20 minutes ago
- Time of India
Knowledge Realty Trust eyes acquisitions in India's top office markets
Synopsis Knowledge Realty Trust, poised for its Indian market debut as an office REIT, plans portfolio expansion via ROFO and third-party acquisitions in top seven cities. Backed by Blackstone and Sattva Group, the REIT will leverage its listing for financial flexibility, including unit swaps for acquisitions.
&w=3840&q=100)

Business Standard
20 minutes ago
- Business Standard
Jio Financial to raise ₹15,825 cr from promoters via warrant issue
In a major boost to Jio Financial Services Ltd (JFSL), the company's board on Wednesday approved a Rs 15,825 crore capital infusion from its promoter entities through a preferential issue of warrants. The funds will be raised through the issuance of 50 crore warrants priced at Rs 316.50 each, convertible into one equity share of face value Rs 10 at a premium of Rs 306.50, the company said in a stock exchange filing today. This will be one of the largest fund raises in the Indian financial services sector in recent times. As per a company statement, the warrants will be allotted to two promoter group entities — Sikka Ports & Terminals Ltd and Jamnagar Utilities & Power Pvt Ltd — subject to shareholder and regulatory approvals. Upon full conversion, the promoter group's combined stake will rise by 10.17 per cent. The Ambani family–owned promoter entities currently hold a 47 per cent stake in the company. Jio Financial Services shares closed flat at Rs 320 a share on Wednesday. Among the promoter entities, Sikka Ports & Terminals will increase its holding from 1.08 per cent to 4.65 per cent, while Jamnagar Utilities & Power will move from 2.02 per cent to 5.52 per cent after the conversion, the statement said. The warrants are convertible into fully paid-up shares within 18 months from the date of allotment. Unconverted warrants will lapse, and any amount paid on them will be forfeited, the statement added. A source said Jio Financial, which was demerged from Reliance Industries in July 2023, is actively scaling its presence in lending, insurance and asset management. The new round of funding from the promoters would be used mainly to enter the insurance sector. On July 19, Jio Financial Services entered a 50:50 reinsurance joint venture agreement with Munich-based Allianz Group through its wholly owned subsidiary, Allianz Europe BV. The company also signed a non-binding agreement with the Allianz Group to form additional joint ventures in India's life and general insurance sectors. Several financial services companies are raising funds from investors and promoters in recent months. Earlier this month, Adar Poonawalla's promoter entity approved a Rs 1,500 crore infusion into Poonawalla Fincorp, boosting its net worth to around Rs 9,700 crore and supporting its retail expansion strategy. Tata Capital, the unlisted financial services arm of Tata Sons, is also planning a $2 billion initial public offering before September to fund its growth in the fast-expanding Indian financial services market.