HDFC Bank Full Form
Introduction
HDFC is an established name when it comes to banking in India. The original organisation, Housing Development Finance Corporation, was established in the year 1977 in Mumbai as an early effort to create an Indian private development finance institution. Its main goal was to provide capital for economic development projects.
- Introduction
- What is HDFC bank full form?
- History of HDFC bank
- HDFC Bank associates and subsidiaries
- Services provided by HDFC bank
HDFC Bank is one of the popular projects developed by HDFC to provide basic banking options to the people of this country and has since become one of the more reliable institutions.
What is HDFC bank full form?
HDFC bank’s full form is Housing Development Finance Corporation Bank. It is a subsidiary of HDFC and focuses on providing basic banking services and loans. HDFC bank is considered to be one of the largest private sector banks when it comes to assets. It is also the tenth-largest bank in the world where market capitalisation is concerned.
HDFC bank is a subsidiary of Housing Finance Finance Corporation. Some of the associates of HDFC bank are HDFC ERGO, HDFC RED, HDFC Property Fund and HDFC Credila Financial Services. These organisations come under the larger umbrella organisation, Housing Development Finance Corporation (HDFC).
History of HDFC bank
The Housing Development Finance Corporation was established in the year 1977 in Mumbai. In the early, the organisation functioned as a private-sector bank.
In 1994, when the organisation decided to go public, HDFC bank was incorporated as a part of the organisation.
The official registered office of HDFC is in Mumbai, Maharashtra. It is situated in Sandoz House, Worli, and when it first opened its gates, the inauguration ribbon was cut by the then Finance Minister, Manmohan Singh,
HDFC Bank associates and subsidiaries
HDFC bank is one of the more recognised parts of the Housing Development Finance Corporation. Let's look at some associates of HDFC bank under this umbrella.
HDFC Standard Life Insurance Company Limited
HDFC Asset Management Company
HDFC Property Fund
HDFC RED
HDFC Credila Financial Services
GRUH Finance
In most of these subsidiaries, HDFC owns most of its shares, making it the prime controlling partner of this company.
Services provided by HDFC bank
HDFC bank is known for providing the following services to its customers.
Wholesale Banking
Retail Banking
Treasury
Auto Loan
Two wheeler loans
Personal Loans
Loans against property
Consumer durable loans
Lifestyle loans
Credit cards
Frequently Asked Questions (FAQs)
The full form of HDFC bank is Housing Finance Development Corporation Bank
Mr Hasmukhbhai Parekh founded HDFC in 1977.
The core values of HDFC Bank are as follows
Professional Service
Integrity
Trust
Transparency
Even though HDFC was established in India, 66.55% of its holdings are international. Therefore, it is considered a Foreign bank as well.
HDFC bank is not a government or nationalised bank. Since its establishment in 1994, it has remained a private banking service provider.