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HDFC full form is Housing Development Finance Corporation, headquartered in the city of Mumbai, Maharashtra, is an Indian banking and financial service providing company. In the expression of assets and market capitalization, HDFC Bank is India's largest private sector bank as of April 2022. It is the third-largest company listed in the Indian stock exchanges in terms of market capitalization. The employee listing in HDFC Bank is nearly 120,000 employees. Incorporated in 1994, HDFC is a well-known housing finance corporation in India that primarily provides housing loans to low and middle-income income generating people to help them purchase a home and to help builders for constructing residential projects.
HDFC full form is Housing Development Finance Corporation. The products and varied services of the bank are versatile and in sync with its tagline, ‘We Understand Your World’. RBI gave approval to HDFC to conduct banking operations, and it was the first among the private sector banks to get approval for carrying out the banking services as an institution. The approval was given in the year 1994 as a part of RBI’s policy for the liberalization of the country’s banking sector. The HDFC bank started operations as a Scheduled Commercial Bank in 1995. There has been no looking back since then, and the bank has been introducing innovative products and services to suit the requirements of the customers and modifying the services with time. Some of the valuable associates and subsidiaries of HDFC Bank are HDFC Bank Limited, HDFC ERGO General Insurance Company Limited, HDFC Standard Life Insurance Company Limited, HDFC CRED, GRUH Finance, as well as Credila Finance Services Private Limited. HDFC was established in the year 1994 and was developed by the Housing Development Finance Corporation Limited. HDFC was founded in 1977 with the objective of providing a solution to the existing housing problem in India.The Head Office of the Bank is situated in Mumbai. The bank has over 6,499 branches across 3,226 cities. It offers various commercial and retail products. The main area and extent of business of the bank is Housing Finance, Life Insurance, General Insurance and Mutual Funds. The company shares are traded on both the Bombay and National Stock Exchanges. The company's network is spread approximately in 2400 towns and cities in India, with 396 offices. It also has branches established in London, Dubai, Singapore, and other Middle Eastern countries to help Non-Resident Indians for their convenient transactions. The following are the different products and services of HDFC Bank: The varieties of products and services offered by HDFC are: 1. Mutual Funds The mutual fund services are provided by HDFC Asset Management Company Ltd, one of HDFC Ltd's subsidiaries for the customers to invest in. 2. General Liability Insurance Some of the general insurance products offered by the HDFC are motor, accidental, vehicle, property, travel, home, health, and liability for securing the better future. 3. Life Insurance HDFC Standard Life Insurance Company Limited, a subsidiary of HDFC Ltd., offers life insurance services and customized products to meet the needs of individual customers according to their investment will and capacity. 4. Mortgage The corporation lends money to individuals and businesses who want to buy or build a home or grow the business. 5. Student Loans The HDFC provides educational loans to post-graduate and under-graduate students in India and abroad through HDFC Credila, a Non-Banking Financial Company to boost the education. The latest initiaties of HDFC bank are: The major subsidiary companies of HDFC holding the respective leadership role in various aspects are as follows: The following are the different types of Fixed Deposit Accounts available at HDFC: HDFC Bank offers a wide range of financial services : The social initiative of HDFC is called ‘Parivartan’. The Parivartan initiative was started to bring in social and economic development in the country. Through the Parivartan scheme, HDFC has been able to change the lives of millions by helping them. Parivartan has worked towards achieving the upliftment of the rural population, supported start-ups, made available water in deserts, transformed the education system, introduced livelihood initiatives and paved the way for financial independence and inclusion. Binded by the principle of Sustainability and Innovation, Parivartan works in the following key areas: With 6,000+ branches and 14,533 ATMs spread across 3,000+ cities and towns, HDFC Bank is one of India's leading private sector banks with its enlarged service. The bank offers a variety of retail and wholesale banking services according to the customers needs.What is HDFC Full Form?
History of HDFC
Services of HDFC Bank
HDFC Product and Services
What are the Initiatives of HDFC Bank?
Major Subsidiaries of HDFC?
Types of Fixed Deposit and Recurring Deposit Services by HDFC
Types of Loans Provided by HDFC
CSR Activities by HDFC
The full form of HDFC is Housing Development Finance Corporation.
HDFC has a base of 1,04,154 permanent employees as of 30 June 2019. HDFC Bank is the largest private sector lender by assets.
HDFC is one the first banks to receive approval from RBI (Reserve Bank of India) to set up a private sector financial institution in 1994.
The founder of HDFC Bank is Mr. H.T Parekh.
The founder of HDFC Bank is Mr. H.T Parekh.
The social initiatives by HDFC Bank are: