Search results
Results from the WOW.Com Content Network
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.
The company provides housing finance to individuals and corporations for purchase/construction of residential houses. [13] [17] The type of loans offered by company include loans for purchase and construction of a residential units, purchase of land, home improvement loans, home extension loans, non-residential premise loans for professionals and loan against property and repayment options ...
The seven other state banks became subsidiaries of the new bank in 1959 when the State Bank of India (Subsidiary Banks) Act, 1959 was passed by the Union government. [ 1 ] The next major government intervention in banking took place on 19 July 1969 when the Indira government nationalised an additional 14 major banks.
The bank became a public company via an initial public offering (IPO) in October 2020. [14] In 2021, Equitas Small Finance Bank partnered with the neobanking company Niyo to launch a mobile banking platform called NiyoX. [15] On 23 November 2021, the bank announced its partnership with HDFC Bank, for a co-branded credit card. [16]
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]
CAMS was founded in early 1988 by V Shankar working in software development and computer education. During Y2K, CAMS pivoted to domestic financial services.. The Indian financial services industry experienced a renaissance in the period 1997/8-2006/7, with changes in regulation, products, and supporting infrastructure.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
It has established a state-of-the-art infrastructure that handles most of the securities held and settled in de-materialized form in the Indian securities markets. [6] Securities are held in depository accounts, which are similar to holding funds in bank accounts. Transfer of ownership of securities is done through simple account transfers.