HDFC Bank Limited

HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It is India's largest private sector bank by assets and the world's 10th-largest bank by market capitalisation as of April 2021. It is the third largest company by market capitalisation of $122.50 billion on the Indian stock exchanges. It is also the fifteenth largest employer in India with nearly 120,000 employees. 

HDFC Bank is one of the most trusted and reliable banking institutions in India, offering a wide range of banking and financial services to its customers, including digital banking, mobile banking, net banking, debit cards, and credit cards. The Bank has been consistently ranked as one of the top 10 banks in India in terms of assets and deposits. It has been recognized by the RBI as the Best Bank in India and has received numerous awards and recognitions for its customer service and product offerings.

HDFC Bank was incorporated in August 1994 and currently has a nationwide network of 4,500 branches and 12,500 ATMs spread across Indian towns and cities. HDFC Bank’s Corporate Governance Policy has been adopted keeping in mind the importance of attaining fairness for all stakeholders, as well as achieving organizational efficiency.  It also offers a range of investment and insurance products, as well as various loan products, such as home loans, personal loans, vehicle loans, and business loans.

A subsidiary of the Housing Development Finance Corporation, HDFC Bank was incorporated in 1994, with its registered office in Mumbai, Maharashtra, India. Its first corporate office and a full-service branch at Sandoz House, Worli were inaugurated by the then Union Finance Minister, Manmohan Singh.

It is the largest private sector bank in India as of 2018, with a market capitalization of over INR 5.27 lakh crore (US$76.48 billion). It was incorporated in August 1994, and it has since then grown to become one of the largest banking and financial services institutions in India, with a network of over 5,200 branches and 14,500 ATMs across India.

HDFC Bank launched India’s first credit card in 1998, a significant milestone in the history of Indian banking. This was the first time Indian consumers had access to a convenient and secure plastic money payment system. In 2002, HDFC Bank became the first bank in India to introduce ATMs, enabling customers to access their accounts from any location. This was a revolutionary step in improving customer convenience and reducing the need for customers to travel to branches for transactions.

In 2007, HDFC Bank launched its mobile banking service, allowing customers to access their bank accounts and manage their finances on the go. This was another major step in improving customer convenience and reducing the need to visit branches.

In 2013, HDFC Bank launched the PayZapp mobile wallet, allowing customers to make payments and transfer funds from their phones. This was a major milestone in creating an easy and secure way for customers to make digital payments. In 2017, HDFC Bank introduced contactless cards, allowing customers to make payments quickly and securely with just a tap. This was a major step in making digital payments even more convenient and secure for customers. As well in 2017, HDFC Bank was the first bank in India to introduce the Unified Payments Interface (UPI), allowing customers to make payments and transfer funds with just a few taps. Increasing improvement in the speed and convenience of digital payments.

In 2018, HDFC Bank launched its open banking platform, allowing customers to securely access third-party financial services. This was a major step in creating an open and secure platform for customers to access a range of financial services. FC Bank acquired Centurion Bank of Punjab, making it the largest private sector bank in India. This marked a major milestone in the growth of HDFC Bank, significantly increasing its presence in the Indian market. As of 30 June 2019, the Bank’s distribution network was at 5500 branches across 2,764 cities. The bank also installed 430,000 POS terminals and issued 23570,000 debit cards and 12 million credit cards in FY 2017.

HDFC Bank has since then grown to become one of the largest banking and financial services institutions in India. It offers a wide range of banking products and services such as deposits, loans, credit cards, debit cards, investment services, money transfer services, insurance, mutual funds, and more. It also provides services such as internet banking, mobile banking, phone banking, and more.

HDFC Bank is one of the most respected and trusted brands in India and has earned a strong reputation for its commitment to customer service, innovative products and services, and for its strong financial performance. It has won numerous awards, including “The Best Bank in India” by Business Today,  “The Best Private Sector Bank in India” by The Economic Times, and “The Most Valuable Bank Brand in India” by Brand Finance.

“HDFC Bank’s mission is to be a world-class Indian bank. They have a two-fold objective: first, to be the preferred provider of banking services for target retail and wholesale customer segments. 

The second objective is to achieve healthy growth in profitability, consistent with the bank’s risk appetite.”

“The company aims to be the premier financial partner in ensuring sustainable housing and living standards. It is committed to providing financial solutions for sustainable living and assisting entrepreneurs in value addition.”

“The bank is committed to maintaining the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank’s business philosophy is based on five core values: Operational Excellence, Customer Focus, Product Leadership, People and Sustainability.”

• Auto loans.
• Credit and debit cards.
• Personal loans.
• Home loans.
• Gold loans.
• Mortgages.
• Commercial vehicles finance.
• Retail business banking.