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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]
Basic Savings Bank Deposit Account or BSBDA in India is a savings account that does not have a minimum balance. [1] The maximum amount in the account cannot exceed 50000 INR at any time, [ 2 ] [ 3 ] and the total deposits cannot exceed 100000 [ 4 ] INR in a year.
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
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai. It is the largest bank in India [10] with a 23% market share by assets and a 25% share of the total loan and deposits market. [11] It is also the tenth largest employer in India with nearly 250,000 employees.
A Bank for the Buck: The Story of HDFC Bank is a book written by Tamal Bandyopadhyay. The book was released at a gathering in Mumbai on 24 November 2012, by the then Finance Minister of India P. Chidambaram .
A section on the bank article will be more than enough. SunDawn (contact) 13:05, 18 January 2024 (UTC) [ reply ] Agree with the merger Skratata69 ( talk ) 06:29, 19 March 2024 (UTC) [ reply ]
At the time of its acquisition, Times Bank had 541 employees, 35 branches and 34 ATMs, whereas HDFC Bank had 827 employees, 57 branches and 77 ATMs. [8] [9] Moreover, many of the employees at the Times Bank were former employees of the State Bank of India. [10] The acquisition of Times Bank by HDFC Bank was a major profit booster for The Times ...