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On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking India's largest-ever M&A deal. [23] [24] As part of the merger, HDFC Ltd would transfer its home loan portfolio to HDFC Bank, while the bank offered depositors of HDFC Ltd the choice of either withdrawing their money or renewing their deposits with the bank at the interest rate that the bank was then offering.
HDFC Life Insurance Company Limited (d/b/a HDFC Life) [4] is a long-term life insurance provider headquartered in Mumbai, offering individual and group insurance services. The company was incorporated on 14 August 2000.
In May 2021, Housing Development Finance Corporation (HDFC), entered into a share purchase agreement for the sale of 44,12,000 equity shares of Rs. 10 each, representing 0.62% of the issued and paid-up share capital of HDFC ERGO, in accordance with the direction of Reserve Bank of India to reduce its shareholding in the latter to 50% or below ...
HDFC held 26.14% of shares in HDFC Bank. HDFC Bank sources home loans for HDFC for a fee. [22] The key business areas of HDFC Bank were wholesale and retail banking and treasury operations. As of April 2023, its market capitalisation was ₹ 941,386 crore (US$110 billion), making it India's third largest publicly traded company. [23]
Initially, it was conceived as a platform to help users maintain their daily and monthly spending. Later it added mutual funds and insurance products to its features. [2] It tied up with various financial services companies and banks, including Reliance Mutual Fund, Bajaj Finance, HDFC Life and RBL Bank to offer multiple products and services ...
Exide Life Insurance Company Limited was an Indian life insurance company. Exide Life Insurance distributed its products through multiple channels, including an agency channel with over 40,000 advisors and more than 200 company offices across the country. [ 2 ]
HDFC International Life and Re Company Limited (HDFC International Life & Re) is a first life reinsurance company based in the Dubai International Financial Centre (DIFC), UAE. [ 1 ] It is a wholly owned international subsidiary of HDFC Life and was incorporated on 10 January 2016 under the previous Companies Law DIFC Law No. 2 of 2009 ...
On September 1, 2020, the IFSCA issued the IFSCA (Insurance) Regulations, 2020, for regulating the insurance sector in the IFSC. [18] On December 7, 2020, the IFSCA signed an MoU with the Abu Dhabi Global Market (ADGM) to promote and develop the financial services industry in their respective jurisdictions. [19] [20]