HDFC Bank Logo.svg

HDFC Financial institution – Loans

Indian non-public sector financial institution

HDFC Financial institution Restricted
Sort Public
ISIN INE040A01034
Trade Monetary providers
Based August 1994 (26 years in the past) (August 1994)
Headquarters ,

India

Space served

India

Key folks

  • Atanu Chakraborty
    (Chairman) [1]
  • Sashidhar Jagdishan
    (CEO)
Merchandise
Income Increase147,068.27 crore (US$21 billion) [3] (2020)
Increase114,032.21 crore (US$16 billion) [3] (2020)
Increase27,253.95 crore (US$3.8 billion) [3] (2020)
Complete belongings Increase1,580,830.44 crore (US$220 billion) [4] (2020)
Complete fairness Increase175,810.38 crore (US$25 billion) [4] (2020)
Proprietor Housing Growth Finance Company (25.7%)

Variety of staff

1,16,971 (31 March 2020) [5]
Subsidiaries HDFC Securities[6]
HDB Monetary Companies[7]
Web site www.hdfcbank.com
Footnotes / references
[8][9][10][11]

HDFC Financial institution Restricted is an Indian banking and monetary providers firm, headquartered in Mumbai, Maharashtra. HDFC Financial institution is India’s largest non-public sector financial institution by belongings[12] and by market capitalisation as of April 2021. It’s the third largest firm by market capitalisation on the Indian inventory exchanges.[13] It is usually the thirteenth largest employer in India with practically 120,000 staff.[14]

Historical past[edit]

HDFC Financial institution was included in 1994 as a subsidiary of the Housing Growth Finance Company, with its registered workplace in Mumbai, Maharashtra, India. Its first company workplace and a full-service department at Sandoz Home, Worli had been inaugurated by the Union Finance Minister, Manmohan Singh.
As of 30 June 2019, the Financial institution’s distribution community was at 5,500 branches throughout 2,764 cities. The financial institution additionally put in 430,000 POS terminals and issued 23,570,000 debit playing cards and 12 million bank cards in FY 2017.[15] It has a base of 1,16,971 everlasting staff as of 21 March 2020.[16]

Services and products[edit]

HDFC Financial institution supplies plenty of services together with wholesale banking, retail banking, treasury, auto loans, two-wheeler loans, private loans, loans in opposition to property, shopper sturdy loan, way of life loan and bank cards. Together with this numerous digital merchandise are Payzapp and SmartBUY.[17]

Mergers and acquisitions[edit]

HDFC Financial institution merged with Instances Financial institution in February 2000. This was the primary merger of two non-public banks within the New Era non-public sector banks class.[18]Instances Financial institution was established by Bennett, Coleman and Co. Ltd., generally often known as The Instances Group, India’s largest media conglomerate.[19]

In 2008, Centurion Financial institution of Punjab (CBoP) was acquired by HDFC Financial institution. HDFC Financial institution’s board accepted the acquisition of CBoP for ₹95.1 billion in one of many largest mergers within the monetary sector in India.[20]

In 2021, the financial institution acquired a 9.99% stake in FERBINE, an entity promoted by Tata Group, to function a Pan-India umbrella entity for retail fee techniques, much like Nationwide Funds Company of India.[21]

Investments[edit]

Top Loan Mortgage -

In March 2020, HDFC (mum or dad firm of HDFC BANK) made an funding of ₹1,000 crores in Sure financial institution.[22] As per the scheme of reconstruction of Sure Financial institution, 75% of the overall funding by the company can be locked in for 3 years. On 14 March, Sure Financial institution allotted 100 crore shares of the face worth of ₹2 every for consideration of ₹10 per share (together with ₹8 premium) to the Company aggregating to 7.97 % of the publish challenge fairness share capital of Sure financial institution.[23]

Listings and shareholding[edit]

The fairness shares of HDFC Financial institution are listed on the Bombay Inventory Trade and the Nationwide Inventory Trade of India. Its American depositary receipts are listed on the NYSE and its world depository receipts (GDRs) are listed on the Luxembourg Inventory Trade the place two GDRs signify one fairness share in HDFC Financial institution.[24]

Company social duty[edit]

HDFC Financial institution’s Parivartan initiative spent ₹535 crore in FY19-20[25]

Controversies[edit]

Top Loan Mortgage -

A HDFC Financial institution ATM in West Bengal.

On 2 December 2020, the Reserve Financial institution of India ordered HDFC Financial institution to briefly halt the issuance of latest bank cards and all deliberate movements beneath the financial institution’s Digital 2.0 program citing incidents of outages within the financial institution’s web banking, cellular banking and fee utility providers.[26][27]

On 29 January 2020, Reserve Financial institution of India imposed a financial penalty on HDFC Financial institution for failure to undertake on-going due diligence in case of 39 present accounts opened for bidding within the preliminary public provide.[28]

A HDFC financial institution supervisor was arrested on fees of fraud, involving a sum of ₹59.41 lakh, in Odisha.[29]

Altico Capital and Dubai’s Mashreq Financial institution have approached the Reserve Financial institution of India, accusing HDFC Financial institution of violating regulatory provisions by debiting a part of the funds the corporate had raised by exterior industrial borrowing (ECB) and parked on the financial institution. They claimed that HDFC financial institution’s resolution to switch cash from the account could also be a violation of the RBI’s end-use rule.[30]

Awards and recognition[edit]

2020[edit]

  • India’s Finest Financial institution : Euromoney Awards[31]

2019[edit]

  • Finest Financial institution: New Non-public Sector – FE Finest Financial institution awards[32]
  • Winner in Innovation and Inclusiveness in Precedence Sector Lending – eleventh Inclusive Finance India Awards (IFI) 2019[33]
  • Ranked 1st in 2019 BrandZ Prime 75 Most Invaluable Indian Manufacturers HDFC Financial institution was featured for the sixth consecutive 12 months.[34]
  • Amongst The Most Honored Firm Listing, Institutional Investor All-Asia (ex-Japan) Government Staff 2019 survey[35]
  • India’s Finest Financial institution, Euromoney Awards for Excellence 2019[36]
  • Financial institution of the 12 months and Finest Giant Financial institution, Enterprise Immediately – Cash Immediately Monetary Awards 2019[37]
  • Finest Financial institution in India 2019, by International journal FinanceAsia.[38]
  • Ranked sixtieth in 2019 BrandZ Prime 100 Most Invaluable International Manufacturers[39] HDFC Financial institution was featured BrandZ Prime 100 Most Invaluable International Manufacturers 2019 for the fifth consecutive 12 months. The Financial institution’s model worth has gone up from $20.87 billion in 2018 to $22.70 billion in 2019.
  • Finest Giant Financial institution & Quickest Rising Giant Financial institution in 2019, by Enterprise World Magna Awards[40]

2016[edit]

  • Finest Banking Performer, India in 2016 by International Manufacturers Journal Award.[41]
  • Finest Performing Department in Microfinance amongst non-public sector banks by NABARD, 2016, Award for Finest Efficiency in Microfinance[42]
  • KPMG examine of India’s Finest Banks, Financial institution of the 12 months & finest digital banking initiative award 2016[43]
  • BrandZ Rankings, Most Valued model in India for third successive 12 months[44]
  • FinanceAsia ballot on Asia’s Finest Firms 2015, Finest managed public firm – India[45]
  • J. P. Morgan High quality Recognition Award, Finest in school straight by processing charges[46]

Additional studying[edit]

See additionally[edit]

References[edit]

  1. ^ “rbi-approves-appointment-of-atanu-chakraborty-as-part-time-chairman-of-hdfc-bank”. thehindu.com. Retrieved 22 April 2021.
  2. ^ “Steadiness Sheet of HDFC Financial institution”. moneycontrol.
  3. ^ a b c “HDFC Financial institution Consolidated Revenue & Loss account, HDFC Financial institution Monetary Assertion & Accounts”. moneycontrol.com. Retrieved 24 August 2020.
  4. ^ a b “HDFC Financial institution Consolidated Steadiness Sheet, HDFC Financial institution Monetary Assertion & Accounts”. moneycontrol.com. Retrieved 24 August 2020.
  5. ^ Financial institution, HDFC. “Annual Report”. hdfcbank.com.
  6. ^ Securities, HDFC. “About Us”. hdfcsec.com.
  7. ^ “How HDB Monetary Companies Can Add To HDFC Financial institution’s Lengthy Rally”. Moneycontrol. Retrieved 26 April 2021.
  8. ^ “Shares”. Bloomberg L.P.
  9. ^ “Sashidhar Jagdishan to be the brand new CEO of HDFC Financial institution”. Moneycontrol. Retrieved 4 August 2020.
  10. ^ “Sashidhar Jagdishan appointed MD & CEO of HDFC Financial institution; He’ll take cost on October 27”. the hans india.
  11. ^ “Composition of Board of Administrators of HDFC Financial institution”.
  12. ^ “HDFC Financial institution most respected model in India: WPP examine”. Livemint. Livemint. 10 September 2015.
  13. ^ “Largest financial institution by Market capitalization”. MoneyControl. MoneyControl.
  14. ^ [1]
  15. ^ “HDFC Financial institution 2017” (PDF). Retrieved 1 December 2017.
  16. ^ “HDFC Financial institution”. HDFC Financial institution. HDFC Financial institution.
  17. ^ “HDFC Financial institution – About Banking Companies, Loans Scheme, Award, Contact Deal with, and extra”. enterprise.mapsofindia.com. Retrieved 16 July 2016.
  18. ^ “HDFC Financial institution: Stories, Firm Historical past, Administrators Report, Chairman’s Speech, Auditors Report of HDFC Financial institution”. revenue.ndtv.com. Retrieved 16 July 2016.
  19. ^ Bandyopadhyay, Tamal (19 November 2012). “A Financial institution for the Buck”. Reside Mint. Retrieved 27 March 2020.
  20. ^ “HDFC Financial institution to amass Centurion Financial institution of Punjab”. Banknet India. Archived from the unique on 1 December 2019. Retrieved 23 January 2016.
  21. ^ “Kotak Mahindra Financial institution, HDFC Financial institution To Purchase 9.99% Every In Ferbine”. Moneycontrol. Retrieved 4 March 2021.
  22. ^ “HDFC to carry 7.97% stake in Sure Financial institution after infusing ₹1,000 crore”. mint. 16 March 2020. Retrieved 8 December 2020.
  23. ^ “HDFC to carry 7.97% stake in YES Financial institution after Rs 1,000 crore infusion”. The Financial Instances. Retrieved 8 December 2020.
  24. ^ a b “HDFC financial institution itemizing & shareholding”. Cash Management.
  25. ^ “Company Social Duty (CSR): HDFC Financial institution spends Rs. 535 Cr on group improvement in FY 2019–20”. 26 July 2020.
  26. ^ moneycontrol.com https://www.moneycontrol.com/information/enterprise/rbi-halts-hdfc-bank-digital-activities-asks-bank-to-stop-sourcing-new-credit-card-customers-after-multiple-digital-failures-6183521.html.
  27. ^ “Defined: Why RBI has requested HDFC Financial institution to discontinue digital launches, new bank card sourcing”. The Indian Specific. 8 December 2020. Retrieved 8 December 2020.
  28. ^ “RBI imposes penalty on HDFC financial institution”. rbi.org.in. Retrieved 29 January 2020.
  29. ^ “A HDFC financial institution supervisor arrested for Rs 59.41 lakh fraud in Odisha”. The New Indian Specific. Retrieved 16 August 2019.
  30. ^ “Altico and Mashreq strategy RBI in opposition to HDFC Financial institution”. The Financial Instances. Retrieved 13 October 2019.
  31. ^ Financial institution, HDFC. “Press Launch”.
  32. ^ https://www.hdfcbank.com/content material/api/contentstream-id/723fb80a-2dde-42a3-9793-7ae1be57c87f/7a11082e-9cf6-4c4f-9de3-7e9ff409ba76?
  33. ^ https://www.hdfcbank.com/content material/api/contentstream-id/723fb80a-2dde-42a3-9793-7ae1be57c87f/97fcd69c-ffa7-4bac-ab8f-d123ad88d8aa?
  34. ^ Bureau, Our. “HDFC Financial institution retains rating as India’s helpful model”. @businessline.
  35. ^ “HDFC Financial institution Awards – Constantly Awarded amongst India’s Finest Financial institution” (PDF).
  36. ^ “HDFC Financial institution Awards – Constantly Awarded amongst India’s Finest Financial institution” (PDF).
  37. ^ “Enterprise Immediately – Cash Immediately Monetary Awards 2019” (PDF).
  38. ^ “HDFC Financial institution luggage the ‘Finest Financial institution in India’ title by FinanceAsia journal – anticipate this huge measures in 2019 from the lender”. Zee Enterprise. 28 June 2019. Retrieved 28 June 2019.
  39. ^ “Millward Brown – Prime International Manufacturers 2019”. hdfcbank.com.
  40. ^ “Enterprise world Magna Awards” (PDF).
  41. ^ “AWARD WINNERS 2016”.
  42. ^ “HDFC Financial institution wins microfinance award from NABARD in Goa”. The Instances of India. 22 January 2016. Retrieved 1 March 2016.
  43. ^ “Financial institution of the 12 months/ Digital Financial institution: HDFC BANK”. Enterprise Immediately. Retrieved 1 March 2016.
  44. ^ “livemint”. HDFC Financial institution remains to be India’s most respected model: Brandz rating. 22 September 2016.
  45. ^ “Asia’s finest managed corporations, half 3”. FinanceAsia. 20 March 2015.
  46. ^ “Prime 10 Banks in India 2015”. MBA Skool.

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