HDFC Bank has written a letter to landlords, where it uses branches and other offices, demanding a 20% rent reduction, otherwise it shows the inability to continue occupying the premises, according to industry sources. The bank spent Rs 1,658.47 crore on rent, electricity and local taxes between 2019 and Rs 20. This is Rs 176.37 crore more than last year. Across the country, HDFC Bank operates 5,416 branches and 14,901 ATMs. From the landlord`s perspective, banks are good long-term tenants who rent properties for 10, 15 or 20 years and have stable cash flows. The alternative is retail, a sector of activity that has been severely affected by the lockdowns linked to the pandemic. One banking analyst, who did not want to be identified, said: ”Usually, the third largest expenses for banks are the third largest expenses through rents after expenses for employee salaries, other benefits and IT facilities.” One analyst said HDFC Bank is not the only bank trying to reduce rents due to the pandemic and lockdown. ICICI Bank also recently wrote to landlords requesting a rent reduction during this lockdown. ICICI Bank comprises about 5,300 branches and 15,000 ATMs across the country, with Rs 1,200 spent on rent, electricity and taxes in the 2019-2020 fiscal year. A) For NRI customers met in person 1.
Proof of address [Postal address or foreign address]2. Non-English declaration (in the case of a document in a foreign language) The document that must be certified by the client himself and countersigned by the RM as ”original seen & verified”. Request for a document for proof of mailing address. If an NRI wishes to open the account before going abroad, a copy of the employment contract, university letter, copy of the contract OR any other document may be requested as proof of postal address, provided that the address on the application form and the address on the documents match. Inventory analysis. Market research. Industry trends to over 4000 shares 15 days trial+ includes DocuBay membership and TimesPrime. If any of the above documents have been submitted as proof of postal address, another of the above documents will be received as an additional document for opening a non-personal account. Exclusive Economic Times stories, editorials and expert opinions from over 20 sectors B) For NRI clients without face-to-face 1. Proof of address [Postal address or foreign address].2.
Declaration in non-English [In the case of a document in a foreign language].3. Additional document [If the document is not certified]. The document must be certified by the Embassy of India or by the notary or by overseas bankers. If the certificate is not issued, the document itself must be certified and an additional document must be obtained in accordance with the list below. Letters of self-certification in accordance with Appendix ”A” may be obtained in lieu of self-certification for all documents. .