HDFC Bank, India's largest private sector lender has emerged as the most valued Indian brand at $22.70 billion. The list of top ten brands was created by the largest media buyer, WPP, that includes companies from various sectors such as banking, financial services, and insurance, telecom and auto segments. Public sector insurer LIC took the second place, TCS - the third, Airtel - the fourth, Reliance Jio - the ninth spot.
Airtel's value fell by 10% to $10 billion, while Reliance Jio's value went up by 34% to $5.47 billion. Among the state-run companies, Public sector insurer Life Insurance Corporation (LIC) took the second place, valued at $20 billion with a 2% growth. Reliance Jio stood at the ninth position in the list, while Airtel, the second-largest telecom firm was holding the fourth place. Another banking giant SBI was fifth at $8.40 billion with a surge of 7%. A slowdown in the auto sector seemed to be playing on the valuations of the largest carmaker Maruti Suzuki, with a brand value down by 14% to $5.93 billion.
HDFC Bank in partnership with Indian Oil Corporation has launched co-branded fuel credit cards on Wednesday for non-metro cities and towns. The card offers customers the highest rewards and benefits on fuel consumption, which will be available on RuPay and Visa platforms, officials reportedly said.
.@HDFC_Bank & @IndianOilcl partner to launch a co-branded fuel #creditcard called Indian Oil HDFC Bank Credit Card for users from non-metro locations. The #card offers customers the highest #rewards & benefits on #fuel consumption. Read #PressRelease here https://t.co/qYnJAGOdlb pic.twitter.com/kEN1NWlimk— HDFC Bank News (@HDFCBankNews) September 25, 2019
Customers can also avail reward points, known as 'fuel points' at over 27,000 IOCL outlets. The points can be redeemed for up to 50 litres of fuel annually. The 'fuel points' can also be earned on all other expenses such as groceries, bill payments, utilities. As of FY19, HDFC Bank's CEO Aditya Puri remained the highest-paid chief executive in India with a basic monthly salary of Rs. 89 lakh. He also the longest-serving bank chief, heading the bank since its inception in 1994.
(With PTI Inputs)