HDFC Bank Ltd

Description

HDFC Bank Ltd, an Indian private bank, provides various commercial, personal, wholesale banking services.

The bank was incorporated in August 1994 and commenced operations as Schedule I bank in 1995.

Housing Development and Financial Corporation or HDFC was reportedly the first entity to open a bank in the private sector, following an approval from the Reserve Bank of India.

The Indian bank provides custodian services, corporate banking services and is engaged in the capital and treasury market.

Through its retail banking segment, the bank caters to individual borrowers, micro and medium-scale businesses, salaries individuals, self-help groups, NRIs etc. Various services and products include:
• Commercial vehicle finance
• Gold, study, agri loans
• Personal and home loans
• Fixed and recurring deposits
• Offshore loans to NRIs
• Loans against securities
• Healthcare finance
• Mortgages
• Credit and debit cards

It also provides capital market products such as Euro currency loans and bonds and Global Depository Receipts. In addition, the financial institution also provides advisory services.

Listed on the New York Stock Exchange under the quote of ‘HDB’, the bank’s custodian is JP Morgan Chase Bank N.A. (Mumbai Branch) and its depository bank is JP Morgan Chase Bank N.A. New York.

In India, the private sector bank is also listed on the Bombay Stock Exchange and National Stock Exchange of India.

The diversified bank operates through various subsidiaries, including HDFC securities, Next Gen Publishing, HDFC Financial Services, etc.

The bank caters to small businesses in India and provides them with gold loan, auto loan, agriculture loan, business loans and tractor loans.

Some other leading Indian financial institutions include Axis Bank, ICICI Bank, Punjab National Bank, Induslnd bank, Bank of Baroda, etc.

The bank’s target markets include blue-chip manufacturing companies engaged in the Indian corporate sector, small and mid-size corporates, government bodies, emerging corporates, agri-based businesses and infrastructure finance group.

It provides these entities with the following services:
• Term Lending
• Debt Capital Markets
• Project Finance
• Working capital facilities
• Trade credit
• Merger and acquisitions
• Custodial services
• Cash management services
• Supply chain financing
• Forex and derivatives

The official website also provides the users with several online calculators such SIP calculator, EMI calculators, FD interest calculator, etc.