Overview of HDFC Bank

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HDFC Bank is a multinational bank with branches in India and abroad. It was established in 1994, and since then, it has been one of the leading banks in the country. Let’s find out what services the bank offers and how to use them.

About HDFC Bank

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On the Indian net, HDFC Bank is the most well-known banking brand. It was set up in 1994 as a joint venture between Housing Development Finance Corporation Limited (HDFC) and Ford Foundation (FF). It was one of the first to get approval from the Reserve Bank of India (RBI) to establish a private sector bank. Today, it is one of India’s leading banks, with head office in Mumbai.

HDFC Bank offers multiple services, including netbanking, savings accounts, loans, credit cards, insurance, and more. Its stocks are traded on the Indian share market. So, you can buy HDFC Bank Ltd shares through a brokerage firm.

HDFC Bank has won numerous awards. In 2022 alone, it was recognized:

  • Best Performing Bank in SHG Linkage;
  • Most Committed to High Governance Best Standards;
  • No. 1 in Super Affluent category (USD 100k – 5 mn);
  • Best Large Bank.

You can find out about all bank’s achievements at the link.

Also, The HDFC Bank Group includes many platforms covering different financial services sectors: insurance, trading, investments, etc. For instance, the online trading platform www.hdfcsec.com.

Note! HDFC Bank has an extensive network of over 6300 branches across 3188 cities in India. You can learn more about the bank’s services on the official website https://www.hdfcbank.com/.

Contacts and support

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If you have any questions about its services, you can contact HDFC Bank on toll-free numbers: 1800 202 6161 / 1860 267 6161. These tel numbers are available 24 hours a day. Note that HDFC Bank toll-free numbers are available across India.

You can also contact the nearest branches for customer support:

  • HDFC Bank branch in Sector 18, Noida. Address: No G28 & 29, Sector 18, Noida, Uttar Pradesh 201301, India. Phone No. +912268461208.
  • HDFC Bank branch in Sec. 18, Gurugram. Address: SCO 37, Gr & Bsmt Flr, Huda Market Rd, Sector 18, Gurugram, Haryana 122001, India. Phone No. +912268461208.

You can also contact the branch in Surat, Guwahati, Gudur and others cities. This portal will help you find the nearest branch to you: https://near-me.hdfcbank.com/branch-atm-locator/.

Bank services

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HDFC Bank provides a wide range of retail, wholesale and corporate services. They can be obtained through its branches and ATMs throughout the country. It also offers a unique feature for vehicle dealers. For example, HDFC Bank’s Dealer Finance Solutions provides a wide array of financial products: Inventory funding, Cash credit, Bank guarantee, Letter of credit, and Term loans.

Let’s take a look at the three main business segments of HDFC Bank.

Retail Banking

The purpose of the bank is to provide its customers with reliable financial and banking services: Targeted and Retail loans, Loans against marketable securities, Investment advisory services, and Depository Participant (DP) services to hold clients’ investments in electronic form.

It became the first bank in India to issue international debit cards VISA Electron and MasterCard Maestro. HDFC Bank is one of the leaders in various B2C networking opportunities due to its services: Fixed and recurring deposits, Bill payments, Loans, Mortgages, and more.

Wholesale Banking

The product is intended for large, high-tech production, small and medium-sized businesses, and agricultural enterprises. HDFC Bank offers them a wide range of banking services: Trade credit, Mergers and acquisitions, Wholesale deposits, Working capital finance, transactional services, cash management, etc.

Treasury

HDFC Bank is required by law to hold 25% of its deposits in government securities. The Treasury manages this investment portfolio and is responsible for its returns and market risks. It also manages liquidity risk and interest rates on the balance sheet. It is a vast experience and financial opportunity that the bank can share with its customers.

Corporations need more sophisticated risk management information, advice, and product structures. The Treasure team offers this service: Statutory reserve, Equities, Solutions on hedging strategies, Bullion, Foreign exchange & derivatives, etc.

Analytics and news

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In the latest news, India’s largest mortgage lender Housing Development Finance Corporation (HDFC) and HDFC Bank Ltd will merge to create a financial giant. The new company can cross-sell its products to more than 68 million customers. After the merger, mortgages will significantly contribute to the firm’s loan book. Recall that HDFC Bank’s mortgages recorded a CAGR of 24.5% and reached a total of ₹702.2 billion in 2021.

Also, to modernize its operations, HDFC has partnered with IT firm “Accenture” to digitize its lending business by using the cloud with digital workflows for application processing, underwriting, and disbursement.

These innovations will strengthen the bank’s position in the Indian financial market and provide better services. To keep abreast of the latest developments of HDFC Bank, start by opening the News Room on the company’s official website.

General

HDFC Bank has been around for decades, and its time-tested services have helped it establish a strong foothold in the Indian investment banking sector. It is one of the largest banks in India, offering a range of services, including credit cards, netbanking, auto loans, home loans, insurance, and more. It also operates globally with branches in Singapore, London, Dubai, the UK, and more.

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