When was hdfc started

The promoter of the company HDFC was incepted in is India's premier housing finance company and enjoys an impeccable track record in India as well as in international markets. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities.

With its experience in the financial markets, a strong market reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment. The merged entity now holds a strong deposit base of around Rs. The balance sheet size of the combined entity would be over Rs. The amalgamation added significant value to HDFC Bank in terms of increased branch network, geographic reach, and customer base, and a bigger pool of skilled manpower.

HDFC Bank offers a wide range of commercial and transactional banking services and treasury products to wholesale and retail customers. HDFC Ltd. Also Mr. In view of the provisions of the Banking Regulation Act, , Mr. Satwalekar has submitted his resignation as Director of the Bank and the Board has accepted the same. The bank introduced a non-interactive product named Financial Planner, which would be available for all its customers for an annual fee starting from Rs 10, The bank is offering fee based advisory programme to the mass affluent segment, which was earlier offered to high net worth customers.

The wealth management programme would cater to individual needs taking into account various factors such as customer's age, financial goals and risk profile, which includes equity, MFs and debt instruments such as RBI Relief Bonds.

The tie-up offers the latter's collateral borrowing and lending obligation CBLO product to cooperative banks that are not direct members of the negotiated dealing system NDS. Engineer have been senior employees of the Bank since and have held various positions of responsibility.

The above appointments as Executive Directors of the Bank are subject to approval of Reserve Bank of India and of the Bank's shareholders.

Vasudev, who is a Director of the Bank, as Non Executive Chairman of the Bank on a part time basis for a period of three years effective July 06, in replace of Mr. Jagdish Capoor retires from his services on the same date. The bank now has a total network of 2, branches spread across 1, cities.

The bank also acquired Centurion Bank of Punjab in , which adds around branches to its network. It is known for its good customer service, revolutions in the financial business, and its sustainability. The bank has introduced various products in the market. Apart from these, it had also conducted several drives and launched initiatives for the betterment of society. Its main objective was to become the first choice of every investor in every domain of the bank services.

Its second objective was to achieve substantial growth in bank assets. No wonder it had met all its business objectives, and it has continually been delivering quality services to the new customer. The bank continues to conquer the hearts and minds of every investor and its existing customers. This merger was approved by the Reserved Bank of India.

The shares would be provided to each of the 29 shares of CBoP. The merger provided great benefits to the HDFC bank. For instance, the bank network had significantly incremented by a good number.

This meant that the HDFC bank could now deliver services to more masses. The added new workforce of the CBoP created a larger pool of skilled workmen. Thus, the merger was a huge gain for the HDFC bank.

Times Bank Limited was an Indian Bank in the private sector. It was the first time that two banks had merged in the 21 st century. The combination of the two banks implied that the shareholders of the Times bank would have received one share of the HDFC bank. This would continue for every 5. The main operations of the financial company as a Scheduled Commercial bank first commenced back in January The bank has had a long history.

Some of these factors were instrumental in making it the premium bank in India. So, here I have provided a descriptive guide about the history of this bank. It had established a partnership with the National Westminster Bank Pc. The bank issued the subscribers of the Memorandum and the Articles of Association with 70 equity shares.

During the same time, the bank promoters were allotted with 5 crore equity shares. Later on, 16th January , the Jarrington Pte. Ltd was also allotted 90,79, number of equity shares. The NatWest Group received ,00, number of shares based on private placement. The public also received equity shares on 9th May that were ,00, in number. An efficient operating system was designed and created by the engineers of the bank for fortifying the computer network of the bank.

The bank had established a good reputation in the financial businesses and the market. This paved the way for the banking consortia of over 50 countries.

The consortia included leading multinational companies, public sector companies, and several flagship companies of the local business. The transaction in the Indian financial market was handled in a new dealing room.

The room was constructed this year to facilitate this process. The rating was the highest for any short-term financial tools at that time. The servers had information about all the new products and services and the branches that the bank had established.