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HDFC Asset Management Company was the investment manager of HDFC Mutual Fund's schemes. [26] HDFC held a 52.6% stake and was the sole promoter of the company as of June 2023. [ 27 ] HDFC AMC managed 68 schemes comprising debt, equity, exchange-traded fund and fund of fund schemes. [ 15 ]
Know your customer (KYC) guidelines and regulations in financial services require professionals to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer.
The total Assets Under Management (AUM) of the Indian mutual fund industry as of December 31, 2023, stood at a staggering ₹ 50.78 trillion (US$590 billion). This is a significant milestone, marking over a six-fold increase compared to the ₹ 8.26 trillion (US$95 billion) recorded in December 2013.
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
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 ...
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.
A mutual fund is an investment fund that pools money from many investors to purchase securities.The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe ('investment company with variable capital'), and the open-ended investment company (OEIC) in the UK.
The decision to form central registry of equitable mortgages was revealed in the 2011 budget speech by then Finance Minister Pranab Mukherjee. It was formed under the Chapter IV Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).