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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 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]
Hasmukh Thakordas Parekh (10 March 1911 – 18 November 1994) was an Indian financial entrepreneur, writer and philanthropist. He played a role in the development of Industrial Credit & Investment Corporation of India, now ICICI Bank, founded the Housing Development Finance Corporation, and in 1992 was awarded the Padma Bhushan for his contribution to the finance industry in India. [2]
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; HDFC Bank of Sri Lanka, a Sri Lankan specialised housing bank
He joined Housing Development Finance Corporation (HDFC) in 1978. HDFC was founded by his uncle, Hasmukhbhai Parekh . [ 6 ] Parekh also became the Non-Executive Chairman of Infrastructure Development Finance Company Ltd (IDFC), a specialised financial institution for financing infrastructure projects in 1997.
Mistry is also an executive director HDFC, director HDFC ERGO, director HDFC Standard Life Insurance, non-executive & Independent director of HCL Technologies, director BSE, member Advisory Board Cox & Kings, [7] non-executive non-Independent director at HDFC Bank, director at Mahindra Holidays and Resorts India. [8] [9]
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 ...
Atanu Chakraborty (born 5 April 1960) [1] is the chairperson of HDFC Bank. He was appointed by the Reserve Bank of India in April 2021. [2] [3] He is a retired 1985 batch officer of the Indian Administrative Service and Gujarat cadre, and served as the Economic Affairs Secretary of India until his retirement in April 2020. His participation in ...