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Hdfc

Hdfc

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Published by: rajnisinhagwl on Jun 26, 2010
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11/24/2010

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Housing Development Finance Corporation Limited, more popularly known as HDFC Bank Ltd, was established inthe year 1994, as a part of the liberalization of the Indian Banking Industry by Reserve Bank of India (RBI). It was oneof the first banks to receive an 'in principle' approval from RBI, for setting up a bank in the private sector. The bankwas incorporated with the name 'HDFC Bank Limited', with its registered office in Mumbai. The following year, itstarted its operations as a Scheduled Commercial Bank. Today, the bank boasts of as many as 1412 branches andover 3275 ATMs across India.
Amalgamations
 In 2002, HDFC Bank witnessed its merger with Times Bank Limited (a private sector bank promoted by Bennett,Coleman & Co. / Times Group). With this, HDFC and Times became the first two private banks in the NewGeneration Private Sector Banks to have gone through a merger. In 2008, RBI approved the amalgamation of Centurion Bank of Punjab with HDFC Bank. With this, the Deposits of the merged entity became Rs. 1,22,000 crore,while the Advances were Rs. 89,000 crore and Balance Sheet size was Rs. 1,63,000 crore.
Tech-Savvy
 HDFC Bank has always prided itself on a highly automated environment, be it in terms of information technology or communication systems. All the braches of the bank boast of online connectivity with the other, ensuring speedyfunds transfer for the clients. At the same time, the bank's branch network and Automated Teller Machines (ATMs)allow multi-branch access to retail clients. The bank makes use of its up-to-date technology, along with marketposition and expertise, to create a competitive advantage and build market share.
Capital Structure
  At present, HDFC Bank boasts of an authorized capital of Rs 550 crore (Rs5.5 billion), of this the paid-up amount isRs 424.6 crore (Rs.4.2 billion). In terms of equity share, the HDFC Group holds 19.4%. Foreign Institutional Investors(FIIs) have around 28% of the equity and about 17.6% is held by the ADS Depository (in respect of the bank's American Depository Shares (ADS) Issue). The bank has about 570,000 shareholders. Its shares find a listing on theStock Exchange, Mumbai and National Stock Exchange, while its American Depository Shares are listed on the NewYork Stock Exchange (NYSE), under the symbol 'HDB'.
Products & Services
 
Personal Banking
 
1994- The Bank was Incorporated on 30th August. A new private sectorBankpromoted by housing Development Corporation Ltd. (HDFC), a premierhousing finance company. The bank is the first of its kind toreceivean in-principle approval from the RBI for establishment of a bank inthe private sector. Certificate of Commencement of Business wasreceived on 10th October 1994 from RBI.
 
 - The Bank transacts both traditional commercial banking as well asinvestment banking. HDFC, the promoter of the bank has entered intoanagreement with National Westminister Bank Pc. and its subsidiaries(Natwest Group) for subscribing 20% of the banks issued capital andproviding technical assistance in relation to the banks proposedbanking business.1995- 70 No. of equity shares issued to subscribers to the Memorandum &Articles of Association on 30th August 1994. On the same date500,00,000 equity shares were allotted to HDFC promoters.509,20,000shares were allotted to HDFC Employees Welfare Trust and HDFC BankEmployees Welfare Trust on 22nd December, 1994.- On 16.1.1995, 90,79,930 No. of equity shares were allotted toJarrington Pte. Ltd. Another 400,00,000 equity shares were allottedonprivate placement basis to Natwest Group on 9.5.1995. 500,00,000shares were allotted to the public on 9.5.95 (all were taken up).- The Bank opened its first branch in Ramon House at Churchgate,Mumbaion January 16th.- The Bank has created an efficient operating system using welltestedstate-of-the-art
software
.1996- HDFC Bank has entered the banking consortia of over 50 corporates,including some leading multinational companies, flagship companiesoflocal business houses and strong public sector companies.- HDFC Bank has set up a state-of-the-art dealing room to handle alltransactions possible in Indian financial markets.- The Certificates of Deposits were awarded a PP1+ rating which isthehighest rating for short term instruments indicating superiorcapacityfor repayment.1997- The bank is one of the largest mobilisers of retail depositsthroughits network of 20 branches. Its credit deposits ratio was 53.8%.- The bank has set up a ultra-modern hub at Powai in Mumbai wherethebank's central computer is housed. This hub housed in 35,000 square
 
feet of space, houses data of all the branches and facilitates theintroduction of new products and services.- HDFC has installed state-of-the-art systems to facilitateinter-connectivity between branches and link up with on line system.- The bank has also recently signed up as a depository participant,under the newly set up NSDL, wherein the members clearing accountssettlement for dematerialised shares can be done through the bank.- HDFC Bank, one of the nine new-generation private sector banks,hasplanned to set up an all-India on-line automated teller machine(ATM)network.- HDFC Bank proposed to launch tele-banking for the first time inJunein Mumbai at its Chandiveli branch.- HDFC Bank has drawn up plans to become a niche player in corporatebanking by sticking to top-rung corporates.- HDFC Bank has become the first private sector bank to conclude astructured interest rate option deal.- HDFC Bank has launched its Versova branch, the 11th branch inMumbai.- HDFC Bank, as part of its expansion plans in the South, has openedanother branch in Chennai.- HDFC Bank has entered into strategic alliances with 10 overseasbanksto provide customers with a wide range of derivatives includinginterest rate and
foreign currency swaps
.- HDFC Bank on October 14 introduced ATMs that converse in aregionallanguage.- HDFC Bank has introduced the Freedom Account for the averageretailcustomer located in the major metros as a means to wean away themiddle-income market from nationalised banks.- HDFC Bank has launched an account in all its 28 branches acrossIndiathat seeks to free depositors from minimum balance requirement, forthefirst time in the country.- HDFC has introduced a new loan product for the payment ofbettermentfees announced by the Bangalore Mahanagar Palike.- HDFC Bank is all set to launch its debit card by April 1998.

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