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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]
This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India's commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, 6 PBs, 43 RRBs, and 2 LABs.
Tamilnad Mercantile Bank Limited (TMB) is an Indian bank headquartered at Thoothukudi, Tamil Nadu. TMB was founded in 1921 as the Nadar Bank, but changed its name to Tamilnad Mercantile Bank in November 1962 to widen its appeal beyond the Nadar community.
In 2015, Times Internet launched Samayam, a website that provides news in Tamil, Telugu and Malayalam languages. [14] In association with HDFC Bank, it launched 'Times Points HDFC Bank Debit Card', an exclusive co-branded debit card in 2016. [15] It also ventured into video streaming with Box TV Limited in 2012 but shut it down in 2016. [16]
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.
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 ...
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 Housing Development Fund Corporation , a special type of limited equity housing cooperative in New York City