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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. [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 company provides housing finance to individuals and corporates for purchase/construction of residential houses. [13] [17] The type of loans offered by company include loans for purchase and construction of a residential units, purchase of land, home improvement loans, home extension loans, non-residential premise loans for professionals and loan against property and repayment options ...
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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 ...
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 ...
HDFC Securities is the stock-broking arm of India’s largest private-sector lender, HDFC Bank, [2] and began operations in April 2000. It began as a joint venture between HDFC Bank Limited, HDFC Limited and Indocean eSecurities Holdings Limited. [3] Along with its stock broking services, HDFC Securities is a distributor of financial products.
HDFC Bank sought permission from regulators to merge with its parent HDFC and merged. This led to a lot of probable capital holding violations for which the combined entity was given a year to bring under statutory limits. Before the merger, HDFC swapped its group company Gruh Finance to Bandhan bank for a 15% stake in its combined capital.
The company is a joint venture between Housing Development Finance Corporation Ltd (HDFC), one of India's leading housing finance institutions and Abrdn, a global investment company. [5] As of 31 March 2020, the promoters; HDFC Ltd. and Standard Life (Mauritius Holdings) 2006 Ltd. hold a 51.69% and 34.75% stake in HDFC Life respectively. [5]