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HDFC holds 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 are 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]
On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking India's largest-ever M&A deal. [24] [25] 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.
The bank is also monitoring the accounts on a weekly basis through its credit monitoring group [28] Jul 2018: Monexo, the first peer-to-peer lending company in India has tied-up with CRIF to access credit scores and other relevant financial data to aid in the loan disbursement decision making process [29]
The HDFC was established under the National Housing Act No. 37 of 1957 and it commenced operations in June 1984. [4] The Housing Development Finance Corporation of Sri Lanka Act No. 7 of 1997 passed in the parliament of Sri Lanka. Under the act, the HDFC was established as a state-owned enterprise. The act was amended in 2003, allowing the HDFC ...
It was primarily created to check frauds in lending against equitable mortgages, in which people would take multiple loans on the same asset from different banks. [ 1 ] It is a Government company licensed under section 8 of the Companies Act, 2013 having its Registered Office at New Delhi .
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The higher the score, the more favourable the bank is to the client. It is a 3-digit number ranging between 300 and 900. Ideally, 720 or above score considered as a good CIBIL score. It tells your financial health and your previous records of loans.
HDFC may refer to: . Housing Development Finance Corporation, an Indian mortgage company; HDFC Bank, an Indian financial services company; HDFC Life, a joint venture of Housing Development Finance Corporation and Standard Life plc