HDFC Bank

HDFC Bank Limited (also known as HDFC) is an Indian banking and financial services company headquartered in Mumbai. It is India's largest private sector bank by assets and the world's fifth-largest bank by market capitalization as of August 2023, following its takeover of parent company HDFC.[12][13][14] Due to its size, it has been categorized as a Domestic Systemically Important Bank (D-SIB) by the Reserve Bank of India.[15][16] The bank was incorporated in August 1994 after its erstwhile parent HDFC received an 'in principle' approval from the RBI to set up a bank in the private sector, as part of its liberalization of the Indian banking industry,[17][18] and commenced operations in January 1995. With a market capitalization of $140 billion (as of January 2024), HDFC Bank is the third-largest company on Indian stock exchanges.[19] It is also the sixteenth largest employer in India with nearly 1.73[20] lakh employees History HDFC Bank was incorporated in 1994 as a subsidiary of the Housing Development Finance Corporation, with its registered office in Mumbai, Maharashtra, India. Its first corporate office and a full-service branch at Sandoz House, Worli were inaugurated by the then Union Finance Minister, Manmohan Singh. As of 1 June 2023, the bank's distribution network was at 8,344 branches and 19,727 ATMs across 3,811 cities. It has installed 430,000 POS terminals and issued 23.5 million (23.5 million) debit cards and 12 million (12 million) credit cards in FY 2017.[22] It has a base of 1,77,000 permanent employees as of 1 June 2023.[23]

Very nice staff