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Founded: August 1994 (30 years ago) () Headquarters: Mumbai, Maharashtra, India ... HDFC Bank Limited is an Indian banking and financial services company, ...
HDFC was founded in 1977 with the support from India's business community, [13] [14] as the first specialised mortgage company in India and the main company among HDFC group of companies. [ 13 ] [ 15 ] HDFC was promoted by the Industrial Credit and Investment Corporation of India ( ICICI ). [ 16 ]
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]
SBI Sri Lanka [54] was founded in 1864 and is the oldest bank in Sri Lanka. [55] It has three branches located in Colombo, Kandy and Jaffna. SBI UK Ltd [56] SBI US In 1982, the bank established a subsidiary, State Bank of India (California). It has ten branches—nine branches in the state of California and one in Washington, D.C., as of 28 ...
Parekh has worked at Ernst & Young, Grindlays Bank, and Chase Manhattan Bank as its assistant representative for South Asia. He joined Housing Development Finance Corporation (HDFC) in 1978. HDFC was founded by his uncle, Hasmukhbhai Parekh. [6]
Under the act, the HDFC was established as a state-owned enterprise. The act was amended in 2003, allowing the HDFC to reestablish itself as a specialised bank. The bank was listed on the Colombo Stock Exchange in 2005. Beginning in 2011, the bank broadened its scope of operations to enter into new market segments of banking. [5]
HDFC Life was established in 2000 becoming the first private sector life insurance company in India. [10] By 2001, the company had its 100th customer, strengthened its employee force to 100, and had settled its first claim. HDFC Life launched its first TV advertising campaign 'Sar Utha Ke Jiyo' in 2005.
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 ...