Company History - HDFC Bank Ltd.

1994 - The Bank was Incorporated on 30th August. A new private sector Bank promoted by housing Development Corporation Ltd. (HDFC), a premier housing finance company. The bank is the first of its kind to receive an in-principle approval from the RBI for establishment of a bank in the private sector. Certificate of Commencement of Business was received on 10th October 1994 from RBI. - The Bank transacts both traditional commercial banking as well as investment banking. HDFC, the promoter of the bank has entered into an agreement with National Westminister Bank Pc. and its subsidiaries (Natwest Group) for subscribing 20% of the banks issued capital and providing technical assistance in relation to the banks proposed banking business. 1995 - 70 No. of equity shares issued to subscribers to the Memorandum & Articles of Association on 30th August 1994. On the same date 500,00,000 equity shares were allotted to HDFC promoters. 509,20,000 shares were allotted to HDFC Employees Welfare Trust and HDFC Bank Employees Welfare Trust on 22nd December, 1994. - On 16.1.1995, 90,79,930 No. of equity shares were allotted to Jarrington Pte. Ltd. Another 400,00,000 equity shares were allotted on private placement basis to Natwest Group on 9.5.1995. 500,00,000 shares were allotted to the public on 9.5.95 (all were taken up). - The Bank opened its first branch in Ramon House at Churchgate, Mumbai on January 16th. - The Bank has created an efficient operating system using well tested state-of-the-art software. 1996 - HDFC Bank has entered the banking consortia of over 50 corporates, including some leading multinational companies, flagship companies of local business houses and strong public sector companies. - HDFC Bank has set up a state-of-the-art dealing room to handle all transactions possible in Indian financial markets. - The Certificates of Deposits were awarded a PP1+ rating which is the highest rating for short term instruments indicating superior capacity for repayment. 1997 - The bank is one of the largest mobilisers of retail deposits through its network of 20 branches. Its credit deposits ratio was 53.8%. - The bank has set up a ultra-modern hub at Powai in Mumbai where the bank's central computer is housed. This hub housed in 35,000 square feet of space, houses data of all the branches and facilitates the introduction of new products and services. - HDFC has installed state-of-the-art systems to facilitate inter-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 accounts settlement for dematerialised shares can be done through the bank. - HDFC Bank, one of the nine new-generation private sector banks, has planned to set up an all-India on-line automated teller machine (ATM) network. - HDFC Bank proposed to launch tele-banking for the first time in June in Mumbai at its Chandiveli branch. - HDFC Bank has drawn up plans to become a niche player in corporate banking by sticking to top-rung corporates. - HDFC Bank has become the first private sector bank to conclude a structured interest rate option deal. - HDFC Bank has launched its Versova branch, the 11th branch in Mumbai. - HDFC Bank, as part of its expansion plans in the South, has opened another branch in Chennai. - HDFC Bank has entered into strategic alliances with 10 overseas banks to provide customers with a wide range of derivatives including interest rate and foreign currency swaps.

- HDFC Bank on October 14 introduced ATMs that converse in a regional language. - HDFC Bank has introduced the Freedom Account for the average retail customer located in the major metros as a means to wean away the middle-income market from nationalised banks. - HDFC Bank has launched an account in all its 28 branches across India that seeks to free depositors from minimum balance requirement, for the first time in the country. - HDFC has introduced a new loan product for the payment of betterment fees announced by the Bangalore Mahanagar Palike. - HDFC Bank is all set to launch its debit card by April 1998. 1998 - HDFC Bank has tied up with the Ahmedabad Stock Exchange (ASE) to act as its clearing bank. - HDFC Bank proposes to strengthen its branch network in Calcutta with the addition of two new branches in the first quarter of the next fiscal. - HDFC Bank has signed an agreement with the National Stock Exchange (NSE) which will give it a second charge over the brokers deposit for providing loan against share facility to NSE brokers. - The bank has also entered into a similar understanding with the Bombay Stock Exchange (BSE) whereby the bourse will provide support for recovery of money against the card for loan against share facility. - The bank has also entered into `Cirrus' arrangements by which all master card holders across the globe will be able to transact at HDFC Bank in India. - The bank will also provide phone-banking facility in Bangalore. HDFC has tied up with Visa International to offer its Debit Card. - HDFC Bank Ltd has entered into a memorandum of understanding for a strategic business collaboration with Chase Manhattan Bank. - HDFC Bank has become the first bank in India to link up its automated teller machine (ATM) network with all the three major payment systems world-wide. - HDFC Bank will be the first bank in the Asia-Pacific region to connect the American Express (Amex) payment system. - The HDFC Bank is expanding its ATM network to connect to American Express Interchange based in Phoenix, Arizona, USA. With this connectivity, HDFC Bank has become the first bank in the Asia-pacific region to connect to the Amex Interchange. - HDFC Bank was the first to sign up with AMEX in December of 1998. - The Bank has tied up with ITC Threadneedle Mutual Fund to provide its investors with the High Interest Fund (HIF), a facility to encash their units through the bank's Automated Teller Machines in addition to a cheque book facility also to be provided by the bank. - Sony India Ltd (SIL) has joined hands with HDFC Bank to work out an innovative car finance package under which a sony car audio system would be installed to a new car for no additional upfront cash outflow. - The bank has decided to issue 1,33,10,000 equity shares of Rs. 10 each to HDFC and a wholly-owned subsidiary of it at a price of Rs. 94 per share. - The bank will also issue 13,70,000 equity shares to India Private Equity Fund and 51,20,000 shares to Indocean Financial Holding, the two equity funds controlled by Chase Manhattan Bank. - HDFC Bank, has tied up with BPL Ltd to offer Internet-enabled supply-chain management and business-to-consumer (B2C) e-commerce services to corporates. - Hutchison Max Telecom and HDFC Bank introduced the country's first-ever mobile-banking services in the city. 2000 - HDFC Bank also signed a memorandum of understanding with Singapore Telecom's e-commerce arm Sesami.Com Pvt Ltd.

- The Bank latter also entered into a partnership agreement with National Computer Systems, the e-commerce unit of Singtel. - A new company called SESAMi.com (India) has been formed by a strategic alliance between HDFC Bank and Singapore Telecom's e-commerce company SESAMi.com, to offer e-commerce solutions for the Indian market. - HDFC Bank has a tie-up with Maxtouch for giving the facility to the latter's customers in Mumbai. This is the first and only service of this sort in the country, he said. - HDFC Bank is also launching an online electronic banking solution called Enet which will allow corporates to access their accounts over the net and carry out trade related transactions and cash management functions. - HDFC Bank entered into a tie-up with Telco by which the bank would provide preferential financing options for Tata's range of passenger cars including the Indica, Sumo, Safari, Estate and Sierra. - HDFC Bank allotted 1.98 crore shares of Rs 10 each at an issue price of Rs 94 per share to promoters and strategic investors on March 29. - HDFC Bank is also set to become the first bank in the country to offer wireless application protocol (WAP) services to customers. - SkyCell Communications Ltd, one of the two cellular service providers in Chennai, has launched `Sky Banking', for which the company has tied up with ICICI Bank and HDFC Bank. - The bank has tied up with 12 utility companies nationwide including BSES, MSEB, BEST, Orange, BPL and MTNL. - The Bank has tied up with financial portals, e-brokerages and the National Stock Exchange to enable broker payments for e-broking ventures. - The Bank has set up 100 new electronic data capture (EDC) terminals in Mumbai. - HDFC Bank has launched its first B2C payment gateway which allows Visa and MasterCard credit card-holders to do transaction online and realtime. - CYBERITMALL.COM has joined hands with HDFC Bank to provide VISA/MasterCard users with an online payment gateway solution to enable them to have a secure eshopping experience. - HDFC Bank plans to extend its mobilephone banking services introduced in select metros to mobilephone broking when it introduces its Internet on-line trading in July. - HDFC Bank and portal clickforsteel.com have signed a memorandum of understanding for offering online credit and services to facilitate `post transaction' activities through the portal's `allied services providers' programme. Indianfoline.com signed an agreement with HDFC bank for the use of payment gateway to enable online financial transactions. - HDFC Bank, in association with cellular service provider Orange, has launched the entire range of mobile banking services and mobile commerce services using wireless application protocol (WAP) technology. - The Company has introduced a new scheme whereby it will provide loans to individuals for payment of self assessment tax on their properties in Bangalore. - The Foreign Investment Promotion Board has cleared the proposal of the HDFC Group to enter into a joint venture with Singapore Telecom's e-commerce company for providing a comprehensive range of business-to-business e-commerce solutions to companies in India. - The Company proposes to pick up an equity stake in Softcell Trade and Technologies Ltd., a Mumbai-based software company. - BPL Mobile has tied up with HDFC Bank to offer Internet banking through the mobile phone. - HDFC Bank launched `eInstant Car Loans' a new scheme for offering customers a range of net-enabled loan products. - HDFC Bank launched depository services on the net. - HDFC Bank tied up with NSE.IT, a wholly owned subsidiary of the National Stock Exchange, for providing payment gateway services for the latter's Internet trading operations. - HDFC Bank has been identified as the best domestic commercial bank for the second consecutive year by FinanceAsia.com, which provides a network for financial decision makers. - The Mumbai-based Geojit Securities Ltd. has tied up with HDFC Bank for Internet trading of shares. - Calcutta's cellular services provider Modi Telstra, and HDFC Bank have entered into a collaboration to provide mobile

commerce in Calcutta. - HDFC Bank has got the Kerala-based Nedungadi Bank as its first customer for its new joint venture company with I-Flex Solutions. - HDFC Bank has set a target of attaining a business of over Rs 15,000 crore this fiscal mainly through expansion and new product launches, including a credit card. - HDFC Bank, in association with Tata Cellular, has launched Mobile Commerce Service, for customers in Hyderabad and Vishakaptnam. - HDFC Bank has tied up with about 25 equity brokerages for enabling third party transfer of funds and securities through its business-to-business portal -- `e-Net'. - The Bank has entered into an alliance with Deloitte Haskins and Sells, a member firm of Deloitte and Touch, to offer banking services to its non-resident Indian customers. - HDFC Bank has launched its 123rd outlet at Delhi Stock Exchange building at Asaf Ali Road. - The Bank proposes to acquire up to 24.5 per cent stake in the MIEL e-Security Pvt. Ltd., which is engaged in the business of developing and marketing of security products and services for a range of e-commerce and enterprises security applications. - The Bank has tied up with Rajan Raheja-owned Hathway for providing banking at home as part of the Net-over-cable initiative of the latter in Mumbai. - HDFC Bank launched its on-line bill payment facility in alliance with the Maharashtra State Electricity Board has also begun to offer bridge loans against fixed deposits of parent Housing Development Finance Corporation the financial institution. - HDFC Bank has tied up with portal brainvisa.com to retail education loans to students. - The Gujarat Cellular operator Fascel, has signed up with the HDFC Bank to introduce mobile commerce for the first time in the State. - HDFC Bank has tied up with BPL Mobile for mobile commerce facility. - CricketNext.com, a sports e-commerce site has tied up with HDFC Bank to provide an on-line payment gateways and marketing opportunities for a wide range of cricket sports gear on its on-line shop BatNext. - Singapore-based Growasia.com has entered into an understanding with HDFC Bank and credit rating agency Icra, for picking up equity in the company's Indian subsidiary Gasia.com. - The Bank has launched `Freedom - The e-Age Savings Account' for cellular phone users. - Spice Cell has tied up with Citibank N A, HDFC Bank and ICICI Bank for mobile bill settlements. - HDFC Bank and Cosmos Bank launched a co-branded ATM card. - The Chatterjee Group-promoted Captech Online Ltd. has signed memorandum of understanding with HDFC Bank and UTI Bank for setting up a payment gateway for its debt negotiation platform, Riskxpress.com. - HDFC Securities Ltd., promoted by the HDFC group with equity participation from the Housing Development Finance Corporation Ltd., HDFC Bank and Chase Capital Partners, has launched its brokerage services for retail investors in the Capital. - The HDFC Bank and Airtel launched their mobile-banking service through WAP in Delhi. - HDFC Bank has launched wireless application protocol-based mobile-banking in Coimbatore and Trichy in association with Aircel. 2001 - The Bank has opened its first branch in Aurangabad. - HDFC Standard Life Insurance has entered into a memorandum of understanding with the Chennai-based Indian Bank. - The Bank has launched the international Maestro debit card in association with Master Card.

- HDFC Bank will launch its credit card in June through link-ups with MasterCard and Visa. - LTtrade.com has entered into a strategic tie-up with HDFC Bank to provide Net banking services to online investors. - Standard Chartered Bank, HDFC Bank and Bharat Petroleum Corporation have joined the eCash Forum which has been set up by the Smart Card Forum of India. - HDFC Bank has launched a new campaign for its eage savings account. - HDFC Bank entered into a strategic tie-up with Tally Solutions Pvt. Ltd. to offer online real time accounting services to small and medium enterprises. - The Bank has opened four ATMs outlets in Bangalore at Coles Road, RT Nagar, Rajaji Nagar and Jaya Nagar on March 26. - HDFC Standard Life Insurance has launched a `Development Insurance Plan' a low cost life insurance product developed specifically to meet the needs of economically weaker sections. - Two Directors, Mr. S.S. Thakur and Mr. Amit Judge, have resigned from the board of the bank effective from March 30. - HDFC Bank files with US regulators to list more than 11 million American Depositary Shares on the New York Stock Exchange. 2002 - HDFC Bank unveiled a new online account aggregation service `OneView'. - HDFC launched 'One View' service to customers - HDFC Bank launched its 9th branch in Karnataka. - HDFC opens its branch in Mangalore. - HDFC Bank unveils Silver card in Hyderabad. - HDFC Bank opens first overseas representative office. - HDFC Bank unveils gold card - Mediclaim facilities to HDFC Bank gold cardholders. - HDFC Bank Ltd has informed BSE that Mr Deepak Satwalekar has submitted his resignation as Director of the Bank. The Board of Directors has accepted the same. The Board of Directors has co-opted Mrs Renu Karnad as Additional Director of the Bank. - Mrs. Renu Karnad has been co-opted as an Additional Director of the Bank. Mrs Karnad shall represent the promoters of the bank i.e. HDFC Ltd. Also Mr. Deepak Satwalekar, Managing Director of HDFC Standard Life Insurance Company Ltd, has been on the Board of the Bank as nominee of HDFC Ltd since September 12, 1994 and shall complete the period of 8 yrs before the next scheduled board meeting. In view of the provisions of the Banking Regulation Act, 1949, Mr. Satwalekar has submitted his resignation as Director of the Bank and the Board has accepted the same. - HDFC Bank launched new products to its wealth management programme to increase its customer base. The bank introduced a non-interactive product named "Financial Planner", which would be available for all its customers for an annual fee starting from Rs 10,000. The bank is offering fee based advisory programme to the "mass affluent" segment, which was earlier offered to high net worth customers. The wealth management programme would cater to individual needs taking into account various factors such as customer's age, financial goals and risk profile, which includes equity, MFs and debt instruments such as RBI Relief Bonds. - Orange JV with HDFC Bank. 2003 - HDFC Bank unveils resident foreign currency account.

- HDFC Bank unveils co-branded credit card with e-Seva. - The Board of Directors of HDFC Bank Ltd at their meeting held on January 15, 2003 approved the appointment of Mr. Arvind Pande as an Additional Director pursuant to section 260 of the Companies Act, 1956. - EPFO JV with HDFC Bank for its pension distribution. - HDFC enters into agreement with HDFC Bank to source housing loans. - HDFC Bank, IRCTC in tie up for online railway booking. - HDFC Bank inks pact with ANB for remittance service - HDFC Bank introduces 'HDFC Bank Health Plus Credit Card'. - Uma Krishnan resigns HDFC Bank as country head. - Escotel ties up with HDFC Bank for Global Debit Card. - HDFC Bank launches India's first mobile payment solution. - HDFC Bank's debt programme of Rs 400-crore has received triple A (ind) rating from CREDIT rating agency FITCH. -Mumbai - HDFC Bank in collaboration with Tally Solutions is planning to launch electronic data interchange (EDI) system for small and medium enterprises (SMEs). -Warburg Pincus sells 2% stake in HDFC for Rs 235 cr - HDFC Bank began selling home loans of its promoter Housing Development Finance Corporation (HDFC). -Board approved to allot 4,16,400 equity shares to the employees of the Bank under the Employee Stock Option Scheme 2004 -Mr Ranjan Kapur & Mr Bobby Parikh appointed as Additional Directors -NMCE inks pact with HDFC Bank for warehouse receipts - HDFC Bank has entered into an alliance with Clearing Corporation of India Ltd (CCIL). The tie-up offers the latter's collateral borrowing and lending obligation (CBLO) product to cooperative banks that are not direct members of the negotiated dealing system (NDS). -HDFC Bank repurchases HDFC loans worth Rs 208 cr -Launches Quickremit, a unique online service that enables NRIs in the US to send money to their relatives in India from the comfort of their homes. -Andhra Bank has entered into an alliance with HDFC Bank for sharing its network of automated teller machines (ATMs). On March 29, 2004 - HDFC Bank and Bahraini Saudi Bank (BSB) have announced an alliance to cater to service the needs of the non-resident Indians (NRIs) in Bahrain. - HDFC bank Ltd has informed that Dr (Mrs) Amla Samanta has ceased to be a director of the Bank wef April 25, 2004. - HDFC Bank launches new scheme for Maruti 800 buyers, providing 85 per cent finance on the on-road price of the car for seven years. -HDFC Bank wins Asiamoney award for Best Domestic Bank -HDFC Bank managing director Aditya Puri has been awarded the management man of the year by the Bombay Management Association (BMA) -HDFC Bank has entered into an agreement with Shrachi Securities Ltd, the flagship company of the Kolkata-based Rs 300-

crore Shrachi Group, for financing of multi-utility vehicles all over India -HDFC Bank has launched an online bill payment facility for its customers who are also subscribers to Tata Teleservices -HDFC Bank join hands with NCR Corporation to offer managed ATM services - IKF Finance Ltd has entered in to a Joint Lending Arrangement with HDFC Bank Ltd 2005 -TMB forges alliance with HDFC Bank -HDFC Bank inaugurates first ATM in Hotel - HDFC Bank ties up with the International Bank of Qatar (IBQ) to launch banking services in Qatar. - HDFC Bank launches loyalty rewards programme for its debit and credit cardholders under the name InstaWonderz. -HDFC Bank along with MasterCard International launched credit card targeted at small and medium-sized enterprises -HDFC Bank has tied up with US-based WL Ross and company LLC for investing in corporate restructuring -HDFC Bank unveils credit card for farmers 2006 -HDFC sets up two more branches in AP - Osim to join hands with HDFC Bank for consumer loans - HDFC Bank inaugurates VbV facility for online shopping - HDFC sets up two more branches in AP 2007 -HDFC Bank has signed an agreement with Tata Pipes to offer credit facilities to farmers across the country. -Hdfc Bank Ltd has appointed Mr. Pandit Palande as an additional Director of the Bank at the Board Meeting held today i.e. on 24th April 2007. - HDFC Bank Ltd has informed that the Board of Directors of the Bank at its meeting held on October 12, 2007, has been appointed Mr. Paresh Sukthankar & Mr. Harish Engineer as Executive Directors on the Board of Directors of the bank. Mr. Sukthankar & Mr. Engineer have been senior employees of the Bank since 1994 and have held various positions of responsibility. The above appointments as Executive Directors of the Bank are subject to approval of Reserve Bank of India and of the Bank's shareholders. 2008 - HDFC Bank Ties Up With Postal Department, Extends Rural Reach - HDFC Bank Wins Nasscom IT User Award The Year' - HDFC Bank Opens Its First Overseas Branch In Bahrain - HDFC Bank and Centurion Bank of Punjab merger at share swap ratio of 1:29 - HDFC Bank Launches Indias First Rural Banking BPO At Tirupathi - HDFC Bank Launches Indias First "Online Market Linkage Programme" For Self Help Groups 2009 - HDFC Bank Bags Asiamoney Award for the "Best Domestic Bank" - HDFC Bank offers electronic payment collection facility to Guruvayoor Devaswom. - HDFC Bank launches Meritus Scholarship Programme. - The Asian Banker declares HDFC Bank the Best Retail Bank

2010 - With a view to attract long term deposits and prevent premature withdrawal when the interest rates peak, HDFC, the housing finance major, has decided to pay variable interest rate on recurring deposits. - HDFC Bank on Feb 19 increased the fixed deposit rates by up to 150 basis points across maturities, a move that follows the Cash Reserve Ratio hike of 75 basis points by the Reserve Bank of India last month. - HDFC rolls out systematic savings plan with variable interest rates - HDFC Bank replaces ICICI as Number 1 private retail bank in India - HDFC ties up with UAE bank for online remittances -HDFC Bank approved the appointment of Mr. C. M. Vasudev, who is a Director of the Bank, as Non Executive Chairman of the Bank on a part time basis for a period of three years effective July 06, 2010 in replace of Mr. Jagdish Capoor retires from his services on the same date. - HDFC Bank plan to add 250 new branches to its network over next 2 years. 2011 - HDFC Bank looking at 3G services to boost mobile banking share. - The Housing Development Finance Corporation Limited (HDFC), one of the largest private sector banks in India, which had a network of 1,725 branches as at March 2010, opened 275 new branches in the current fiscal. The bank now has a total network of 2,000 branches spread across 1,000 cities. The bank also acquired Centurion Bank of Punjab in 2008, which adds around 404 branches to its network. - The Asian Banker magazine has declared that the strongest bank in Asia Pacific region is HDFC - India's private banking major ,HDFC Bank has launched its new credit card offering called Infinia in direct competition with global credit card major ,American Express(Amex) .The new HDFC product is exclusively for the bank's high net worth and super rich clients in the country. -Company has splits its Face value of Shares from Rs 10 to Rs 2 2012 - The third-largest US lender by assets, Citigroup Inc has sold its complete 9.85 per cent stake in Housing Development Finance Corporation Ltd (HDFC) for USD 1.9 billion. - HDFC Bank which is a major Indian financial services company based in Mumbai stated that they have collaborated with Punjab Grains Procurement Corporation Ltd (PUNGRAIN) with an aim to make easy and faster payment to its agents who are dealing in agricultural products in about 350 mandis in Punjab. - HDFC Bank ties up with IOC to offer banking services in rural areas - Carlyle offloads entire stake in HDFC for $841 mn through bulk deals - HDFC Bank opens office in Abu Dhabi - HDFC Bank has launched its mobile banking application in Hindi on targeting about 560-million Hindi-speaking population of India. - HDFC Bank opens 87 branches in Punjab, Haryana in a single-day.

HDFC Bank
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HDFC Bank Limited

Type

Private Ltd

Traded as

BSE: 500180 NSE: HDFCBANK NYSE: HDB BSE SENSEX Constituent

Industry

Banking, Financial services

Founded

August 1994

Headquarters

Mumbai, Maharashtra, India

Area served

Worldwide

Key people

Mr Aditya Puri (MD)

Products

Credit cards, consumer banking, banking,

finance, investment

, mortgage loans, private banking, private equity, wealth management[1]

Revenue

US$ 6.487 billion (2012)[2]

Operating income

US$ 1.451 billion (2012)[2]

Profit

US$ 978.3 million (2012)[2]

Total assets

US$ 70.17 billion (2012)[2]

Total equity

US$ 7.793 billion (2012)[2]

Employees

66,076 (2012)[2]

Website

HDFCBank.com

HDFC Bank Limited (BSE: 500180, NSE: HDFCBANK, NYSE: HDB) is an Indianfinancial services company based in Mumbai, Maharashtra that was incorporated in August 1994. HDFC Bank is the fifth largest bank in India by assets and the largest bank by market capitalization as of 1 November 2012. The bank was promoted by the Housing Development Finance Corporation, a premier housing finance company (set up in 1977) of India. As on August 2013, HDFC Bank has 3,119 branches and 11,088 ATMs, in 1,891 cities in India, and all branches of the bank are linked on an online real-time basis. [3] As of December 2012 the bank had balance sheet size of Rs. 3837 billion. For the fiscal year 2011-12, the bank has reported net profit of 5167.07 crore (US$790 million), up 31.6% from the previous fiscal. On 14 March 2013 an online magazine named Cobrapost.com released video footage fromOperation Red Spider showing high-ranking officials and some employees of HDFC bank willing to turn black money into white which is violation of Money Laundering Control Act. Following this the government of India and RBI have ordered an inquiry.[4][5][6] The enquiry confirmed violation of KYC (Know Your Customer) norms by HDFC Bank. A penalty of Rs 45 million was imposed on the bank by RBI.[7]
Contents

1 History

o o o o

1.1 Wholesale banking services 1.2 Retail banking services 1.3 Treasury 1.4 Distribution network

2 See also 3 References 4 External links

History[edit]
HDFC Bank was incorporated in 1994 by Housing Development Finance Corporation Limited (HDFC), India's largest housing finance company. It was among the first companies to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. The Bank started operations as a scheduled commercial bank in January 1995 under the RBI's liberalisation policies. On 26 February 2000 Times Bank Limited owned by The Times Group (Bennett, Coleman & Co.) was merged with HDFC Bank Ltd. This was the first merger of two private banks in India. Shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank. On 23 May 2008 HDFC Bank acquired Centurion Bank of Punjab taking its total branches to more than 1,000. The amalgamated bank emerged with a base of about Rs. 1,22,000 crore and net advances of about Rs.89,000 crore. The balance sheet size of the combined entity is more than Rs. 1,63,000 crore.[citation needed]

Wholesale banking services[edit]

From Blue-chip companies to small & mid-sized corporates and agri-based businesses in India, the Bank provides a wide range of commercial and transactional banking services, including working capital finance, trade services, transactional services, cash management, etc. The bank is also a leading provider of the above services to its corporate customers, mutual funds, stock exchange members and banks.

Retail banking services[edit]

HDFC Bank was the first bank in India to launch an International Debit Card in association with VISA (Visa Electron) and issues the MasterCard Maestro debit card as well. The Bank launched its credit card business in late 2001. By March 2009, the bank had a total card base (debit and credit cards) of over 13 million. The Bank is also one of the leading players in the "merchant acquiring" business with over 70,000 Point-of-sale (POS) terminals for debit / credit cards acceptance at merchant establishments. The Bank is positioned in various net based B2C opportunities including a wide range of Internet banking services for Fixed Deposits, Loans, Bill Payments, etc.

Treasury[edit]

Within this business, the bank has three main product areas - Foreign Exchange and Derivatives, Local Currency Money Market & Debt Securities, and Equities. These services are provided through the bank's Treasury team. To comply with statutory reserve requirements, the bank is required to hold 25% of its deposits in government securities. The Treasury business is responsible for managing the returns and market risk on this investment portfolio.

Distribution network[edit]

An HDFC Bank Branch

HDFC Bank is headquartered in Mumbai and the Banks distribution As of June 30, 2013, the Banks distribution network was at 3,119 branches and 11,088 ATMs in 1,891 cities / towns an increase of 555 branches and 1,379 ATMs over 2,564 branches and 9,709 ATMs in 1,416 cities / towns as of June 30, 2012.

HDFC' - a household name that Indians proudly reckon with!

Housing Development Finance Corporation Limited (HDFC Ltd.) was established in 1977 with the primary objective of meeting a social need of encouraging home ownership by providing long-term finance to households. Over the last three and a half decades, HDFC has turned the concept of housing finance for the growing middle class in India into a world-class enterprise with excellent reputation for professionalism, integrity and impeccable service. A pioneer and leader in housing finance in India, since inception, HDFC has assisted more than 4.4 million customers to own a home of their own, through cumulative housing loan approvals of over Rs. 5.66 trillion and disbursements of over Rs. 4.56 trillion as at March 31, 2013. HDFC has a wide network of 333 offices (which includes 83 offices of HDFC's wholly owned distribution company HDFC Sales Private Limited) catering to over 2,400 towns & cities spread across the country. It also has offices in Dubai, London and Singapore and service associates in

the Middle East region, to provide housing loans and property advisory services to NonResident Indians (NRIs) and Persons of Indian Origin (PIOs). HDFC's unrelenting focus on Corporate Governance, high standards of ethics and clarity of vision, percolate through the organization. Trust, Integrity, Transparency and Professional Service are the important pillars of the brand HDFC and most importantly, people - both employees and customers - are its brand ambassadors. Customer satisfaction is the hallmark of all HDFC offerings. The first touch of HDFC's personalised service begins as soon as a customer approaches HDFC, and over time it progresses into a long and meaningful relationship. State-of-the-art information systems supported by strong in-house training programmes conducted at its specialized training centre in Lonavla, have equipped HDFC to respond swiftly to the ever-changing customer needs and thereby empower customers in making the right home buying decision. This is what sets apart HDFC's customer service philosophy - 'With You, Right Through'. HDFC's specialist team of over 1,833 (as on 31st March, 2013) trained and experienced professionals follows a 'single-window concept' for providing smooth and value added services at all stages. The team guides the customers right through the entire process of property purchase - be it property search assistance, technical support prior to finalising the property, legal advice on property related documentation, personalised home loancounseling or providing tailor-made repayment options to suit the customer's specific requirements. HDFC's wide product range includes loans for purchase and construction of a residential unit, purchase of plot, home improvement loans, home extension loans, non-residential premises loans for professionals and loan against property, while its flexible repayment options include Step Up Repayment Facility (SURF) and Flexible Loan Installment Plan (FLIP). HDFC also has a robust Deposits mobilisation programme. HDFC has been able to mobilise deposits from over 15 lakh depositors. Outstanding deposits grew from Rs. 1,458 crores in March 1994 to Rs 51,933 crores in March 2013. In addition, HDFC has received 'AAA' rating for its Deposit products for highest safety from both CRISIL and ICRA for nineteenth consecutive years. Over the years, HDFC has emerged as a financial conglomerate with its presence in the entire gamut of financial services including banking, insurance (life and non-life), asset management, real estate venture capital and more recently education loans. Today, HDFC is recognised as one of the Best Managed Companies in India and is a model housing finance company for developing countries with nascent housing finance markets. HDFC has undertaken several consultancy assignments in various countries across Asia,

Africa and East Europe to support and establish their housing finance institutions. At HDFC, 'Corporate Social Responsibility' has always been an evolving concept, akin to its 'learning by doing' philosophy. As part of its social objectives, HDFC has always endeavoured to contribute to economic development and social upliftment of the weaker sections of society and

has professionally nurtured each of its social initiative as an investment. HDFC has undertaken development oriented work and supported several social initiatives in the areas of education, child welfare, medical research, welfare for the elderly and the handicapped among several others. HDFC is how millions of Indian families spell the word 'Home' as the brand not only offers Housing Finance, but also Total Housing Solutions. The HDFC Advantage

Pioneers of Housing Finance in India with over 35 years of lending experience. Widest range of home loan & deposit products. Vast network of over 333 interconnected offices which includes 3 international offices. Most experienced and empowered personnel to ensure smooth & easy processing. Online loan application facility at www.hdfc.com and across-the-counter services for new deposits, renewals & repayments. Counseling and advisory services for acquiring a property. Flexible loan repayment options Free & safe document storage.

BACKGROUND
The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an in principle approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of RBIs liberalisation of the Indian Banking Indus try in 1994. The bank was incorporated in August 1994 in the name of HDFC Bank Limited, with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.

PROMOTER
HDFC is Indias premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Since its inception in 1977, the Corporation has maintained a consistent and healthy growth in its operations to remain the market leader in mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. With its experience in the financial markets, strong market reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment.

BUSINESS FOCUS
HDFC Banks mission is to be a World Class Indian Bank. The objective is to build sound customer

franchises across distinct businesses so as to be the preferred provider of banking services for target retail and wholesale customer segments, and to achieve healthy growth in profitability, consistent with the banks risk appetite. The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Banks business philosophy is based on four core values: Operational Excellence, Customer Focus, Product Leadership and People.

CAPITAL STRUCTURE
As on 30th September, 2013 the authorized share capital of the Bank is Rs. 550 crore. The paid-up capital as on the said date is Rs 478,24,96,320/- ( 2391248160 ) equity shares of Rs. 2/- each). The HDFC Group holds 22.72 % of the Bank's equity and about 17.02 % of the equity is held by the ADS / GDR Depositories (in respect of the bank's American Depository Shares (ADS) and Global Depository Receipts (GDR) Issues). 33.61 % of the equity is held by Foreign Institutional Investors (FIIs) and the Bank has 4,45,916 shareholders. The shares are listed on the Bombay Stock Exchange Limited and The National Stock Exchange of India Limited. The Bank's American Depository Shares (ADS) are listed on the New York Stock Exchange (NYSE) under the symbol 'HDB' and the Bank's Global Depository Receipts (GDRs) are listed on Luxembourg Stock Exchange under ISIN No US40415F2002.

AMALGAMATION OF TIMES BANK & CENTURION BANK OF PUNJAB WITH HDFC BANK
On May 23, 2008, the amalgamation of Centurion Bank of Punjab with HDFC Bank was formally approved by Reserve Bank of India to complete the statutory and regulatory approval process. As per the scheme of amalgamation, shareholders of CBoP received 1 share of HDFC Bank for every 29 shares of CBoP. The amalgamation added significant value to HDFC Bank in terms of increased branch network, geographic reach, and customer base, and a bigger pool of skilled manpower. In a milestone transaction in the Indian banking industry, Times Bank Limited (another new private sector bank promoted by Bennett, Coleman & Co. / Times Group) was merged with HDFC Bank Ltd., effective February 26, 2000. This was the first merger of two private banks in the New Generation Private Sector Banks. As per the scheme of amalgamation approved by the shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank.

DISTRIBUTION NETWORK
HDFC Bank is headquartered in Mumbai. As of September 30, 2013, the Bank had a distribution network of 3,251 branches in 2022 cities/towns across India. All branches are linked on an online real-time basis. Customers in over 1397 locations are also serviced through Telephone Banking. The Banks expansion plans take into account the need to have a presence in all major industrial and commercial centres, where its corporate customers are located, as well as the need to build a strong retail customer base for both deposits and loan products. Being a clearing / settlement bank to various leading stock exchanges, the Bank has branches in centres where the NSE / BSE have a strong and active member base. The Bank also has a network of 11,177ATMs across India. HDFC Banks ATM network can be accessed by all domestic and international Visa / MasterCard, Visa Electron / Maestro, Plus / Cirrus and American Express Credit / Charge cardholders.

MANAGEMENT
Mr. C.M. Vasudev has been appointed as the Chairman of the Bank with effect from 6th July 2010. Mr. Vasudev has been a Director of the Bank since October 2006. A retired IAS officer, Mr. Vasudev has had an illustrious career in the civil services and has held several key positions in India and overseas, including Finance Secretary, Government of India, Executive Director, World Bank and Government nominee on the Boards of many companies in the financial sector. The Managing Director, Mr. AdityaPuri, has been a professional banker for over 25 years and before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia. The Bank's Board of Directors is composed of eminent individuals with a wealth of experience in public policy, administration, industry and commercial banking. Senior executives representing HDFC are also on

the

Board.

Senior banking professionals with substantial experience in India and abroad head various businesses and functions and report to the Managing Director. Given the professional expertise of the management team and the overall focus on recruiting and retaining the best talent in the industry, the bank believes that its people are a significant competitive strength.

TECHNOLOGY
HDFC Bank operates in a highly automated environment in terms of information technology and communication systems. All the banks branches have online connectivity, which enables the bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also provided to retail customers through the branch network and Automated Teller Machines (ATMs). The Bank has made substantial efforts and investments in acquiring the best technology available internationally, to build the infrastructure for a world class bank. In terms of core banking software, the Corporate Banking business is supported by Flexcube, while the Retail Banking business by Finware, both from i-flex Solutions Ltd. The systems are open, scaleable and web-enabled. The Bank has prioritised its engagement in technology and the internet as one of its key goals and has already made significant progress in web-enabling its core businesses. In each of its businesses, the Bank has succeeded in leveraging its market position, expertise and technology to create a competitive advantage and build market share.

BUSINESS PROFILE
HDFC Bank caters to a wide range of banking services covering commercial and investment banking on the wholesale side and transactional / branch banking on the retail side. The bank has three key business segments:

Wholesale Banking The Banks target market is primarily large, blue-chip manufacturing companies in the Indian corporate sector and to a lesser extent, small & mid-sized corporates and agri-based businesses. For these customers, the Bank provides a wide range of commercial and transactional banking services, including working capital finance, trade services, transactional services, cash management, etc. The bank is also a leading provider of structured solutions, which combine cash management services with vendor and distributor finance for facilitating superior supply chain management for its corporate customers. Based on its superior product delivery / service levels and strong customer orientation, the Bank has made significant inroads into the banking consortia of a number of leading Indian corporates including multinationals, companies from the domestic business houses and prime public sector companies. It is recognised as a leading provider of cash management and transactional banking solutions to corporate customers, mutual funds, stock exchange members and banks.

Treasury Within this business, the bank has three main product areas - Foreign Exchange and Derivatives, Local Currency Money Market & Debt Securities, and Equities. With the liberalisation of the financial markets in India, corporates need more sophisticated risk management information, advice and product structures. These and fine pricing on various treasury products are provi ded through the banks Treasury team. To comply with statutory reserve requirements, the bank is required to hold 25% of its deposits in government securities. The Treasury business is responsible for managing the returns and market risk on this investment portfolio.

Retail Banking The objective of the Retail Bank is to provide its target market customers a full range of financial products and banking services, giving the customer a one-stop window for all his/her banking requirements. The products are backed by world-class service and delivered to customers through the growing branch network, as well as through alternative delivery channels like ATMs, Phone Banking, NetBanking and Mobile Banking.

The HDFC Bank Preferred program for high net worth individuals, the HDFC Bank Plus and the Investment Advisory Services programs have been designed keeping in mind needs of customers who seek distinct financial solutions, information and advice on various investment avenues. The Bank also has a wide array of retail loan products including Auto Loans, Loans against marketable securities, Personal Loans and Loans for Two-wheelers. It is also a leading provider of Depository Participant (DP) services for retail customers, providing customers the facility to hold their investments in electronic form. HDFC Bank was the first bank in India to launch an International Debit Card in association with VISA (VISA Electron) and issues the MasterCard Maestro debit card as well. The Bank launched its credit card business in late 2001. By March 2013, the bank had a total card base (debit and credit cards) of over 19.7 million. The Bank is also one of the leading players in the merchant acquiring business with over 270,000 Point -of-sale (POS) terminals for debit / credit cards acceptance at merchant establishments. The Bank is well positioned as a leader in various net based B2C opportunities including a wide range of internet banking services for Fixed Deposits, Loans, Bill Payments, etc.

RATINGS / AWARDS
Credit Rating HDFC Bank has its deposit programmes rated by two rating agencies - Credit Analysis & Research Limited. (CARE) and Fitch Ratings India Private Limited. The bank's Fixed Deposit programme has been rated 'CARE AAA (FD)' [Triple A] by CARE, which represents instruments considered to be "of the best quality, carrying negligible investment risk". CARE has also rated the bank's Certificate of Deposit (CD) programme "PR 1+" which represents "superior capacity for repayment of short term promissory obligations". Fitch Ratings India Pvt. Ltd. (100% subsidiary of Fitch Inc.) has assigned the "tAAA (ind)" rating to the bank's deposit programme, with the outlook on the rating as "stable". This rating indicates "highest credit quality" where "protection factors are very high". HDFC Bank also has its long term unsecured, subordinated (Tier II) Bonds of Rs.4 billion rated by CARE and Fitch Ratings India Private Limited. CARE has assigned the rating of "CARE AAA" for the Tier II Bonds while Fitch Ratings India Pvt. Ltd. has assigned the rating "AAA (ind)" with the outlook on the rating as "stable". In each of the cases referred to above, the ratings awarded were the highest assigned by the rating agency for those instruments.

Corporate Governance Rating: The bank was one of the first four companies, which subjected itself to a Corporate Governance and Value Creation (GVC) rating by the rating agency, The Credit Rating Information Services of India Limited (CRISIL). The rating provides an independent assessment of an entity's current performance and an expectation on its "balanced value creation and corporate governance practices" in future. The bank was assigned a 'CRISIL GVC Level 1' rating in January 2007 which indicates that the bank's capability with respect to wealth creation for all its stakeholders while adopting sound corporate governance practices is the highest. Awards and Accolades : HDFC Bank began operations in 1995 with a simple mission: to be a "World-class Indian Bank". We realized that only a single-minded focus on product quality and service excellence would help us get there. Today, we are proud to say that we are well on our way towards that goal. Over the years, the Bank has received recognition and awards from several leading organizations and publications, both domestic and international (details are available onhttp://www.hdfcbank.com/aboutus/awards/default.htm). Some important awards that the Bank won: Best Private Sector Bank Large, Safest Bank India's top achievers MrPuri Best Performing Bank - Private Best Domestic Bank in India Best Executive in India

Sunday Standard Best Bankers' Awards UTI Mutual Fund CNBC TV 18 Financial Advisory Awards 2012 Asia Money 2013

Maharashtra Chamber of Commerce, Industry & Agriculture Awards 2013 Dun & Bradstreet Bharathi Cement Corporate Awards 2012 NDTV Profit Business Leadership Awards 2012 NASSCOM CNBCTV18 IT Innovation Award The National Quality Excellence Awards FE Best Bank Awards Skoch Financial Inclusion Awards 2013 DSCI Information Technology Award 2012 Businessworld Awards for Banking Excellence 2012 HT-Mars Customer satisfaction survey CSO Forum Information Technology Award 2012 Economic Times CNBC TV18's India Best Banks and Financial Institutions Awards 2012 Mint-Aon Hewitt study on India's Best Managed Boards 2012 Forbes Asia

MACCIA Awards 2013 Corporate Awards 2012 Winner in the banking category Best IT Driven Innovation in Banking (COMMERCIAL) Best Customer Service Result HDFC Bank wins in 3 categories at FE Best Bank Awards Organisation of the Year - Security in Bank (2nd time in a row) - Security Leader of the Year (Banking) - Most tech-friendly Bank - Deal of the year (Rupee Bonds) - Winner: Bank and Credit Card customer satisfaction Survey - Best Organisation for Information Security Practice (2nd time in a row) ET Awards for Corporate Excellence - Company of the Year 2012 Best Private sector Bank Our Bank among India's six best managed Boards 2012 Fab 50 Companies - Winning for the 6th year - Best Online Bank - Best use of Business Intelligence

IBA Banking Technology Awards 2011

- Best Customer Relationship Initiative - Best Risk Management & Security Initiative - Best use of Mobility Technology in Banking

- Overall Best Bank Dun & Bradstreet Banking Awards 2012

- Best Private Sector Bank - Asset Quality - Private Sector - Retail Banking -Private Sector IDRBT Banking Technology Excellence Awards 2011-12 Asia Money 2012 India's Top 500 Companies -Dun & Bradstreet Corporate Awards Best Bank in 'IT for Operational Effectiveness' category Best Domestic Bank in India Best Bank in India

Finance Asia

- Best Managed Company - Best CEO - Mr. AdityaPuri

Profile HDFC Bank was incorporated in August 1994 and currently has an nationwide network of 3,251 Branches and 11,177 ATM's in 2,022 Indian towns and cities.
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Awards Our single-minded focus on product quality and service excellence has helped us garner the appreciation of both national and international organizations.
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Financial Information All the facts and figures highlighting the rapid growth of HDFC Bank over the last nine years.
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Careers Join the workforce of India's leading private sector bank that has won accolades from top national and international magazines, and explore a world of opportunities.
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Citizen's Charter Our Citizen's Charter offers relevant information about the products, facilities and services we provide.
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Corporate Governance HDFC Bank's Corporate Governance Policy has been adopted keeping in mind the importance of attaining fairness for all stakeholders, as well as achieving organizational efficiency.

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Shareholding in the Bank Browse through our current as well as previous records detailing the distribution of shares.

HDFC Bank Ltd

BSE: 500180 | NSE: HDFCBANK | ISIN: INE040A01026 Market Cap: [Rs.Cr.] 164,135 | Face Value: [Rs.] 2 Industry: Banks - Private Sector
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Company Profile
HDFC Bank Ltd is a major Indian financial services company based in Mumbai. The Bank is a publicly held banking company engaged in providing a wide range of banking and financial services including commercial banking and treasury operations. The Bank at present has an enviable network of 2201 branches and 7110 ATMs spread in 996 cities across India. They also have one overseas wholesale banking branch in Bahrain, a branch in Hong Kong and two representative offices in UAE and Kenya. The Bank has two subsidiary companies, namely HDFC Securities Ltd and HDB Financial Services Ltd. The Bank has three primary business segments, namely banking, wholesale banking and treasury. The retail banking segment serves retail customers through a branch network and other delivery channels. This segment raises deposits from customers and makes loans and provides other services with the help of specialist product groups to such customers. The wholesale banking segment provides loans, non-fund facilities and transaction services to corporate, public sector units, government bodies, financial institutions and medium-scale enterprises. The treasury segment includes net interest earnings on investments portfolio of the Bank. The Bank's ATM network can be accessed by all domestic and international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders. The Bank's shares are listed on the Bombay Stock Exchange Limited and The National Stock Exchange of India Ltd. The Bank's American Depository Shares (ADS) are listed on the New York Stock Exchange (NYSE) and the Bank's Global Depository Receipts (GDRs) are listed on Luxembourg Stock Exchange. HDFC Bank Ltd Was incorporated on August 30, 1994 by Housing Development Finance Corporation Ltd. In the year 1994, Housing Development Finance Corporation Ltd was amongst the first to receive an 'in principle' approval from the Reserve Bank of India to set up a bank in the private sector, as part of the RBI's liberalization of the Indian Banking Industry. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995. In the year 1996, the Bank was appointed as the clearing bank by the NSCCL. In the year 1997, the launched retail investment advisory services. In the year 1998, they launched their first retail lending product, Loans against Shares. In the year 1999, the Bank launched online, real-time NetBanking. In February 2000, Times Bank Ltd, owned by Bennett, Coleman & Co. / Times Group amalgamated with the Bank Ltd. This was the first merger of two private banks in India. The Bank was the first Bank to launch an International Debit Card in association with VISA (Visa Electron). In the year 2001, they started their Credit Card business. Also, they became the first private sector bank to be authorized by the Central Board of Direct Taxes (CBDT) as well as the RBI to accept direct taxes. During the year, the Bank made a strategic tie-up with a Bangalore-based business solutions software developer, Tally Solutions Pvt Ltd for developing and offering products and services facilitating on-line accounting and banking services to

SMEs. During the year 2001-02 the bank was listed on the New York Stock Exchange. Also, they made the alliance with LIC for providing online payment of insurance premium to the customers. During the year 2002-03, the Bank increased the number of branches from 171 Nos to 231 Nos and the size of the Bank's ATM network expanded from 479 Nos to 732 Nos. They also expanded their presence in the 'merchant acquiring' business. During the year 2003-04, the Bank expanded the distribution network with the number of branches increased from 231 Nos to 312 Nos and the size of the Bank's ATM network increased from 732 Nos to 910 Nos. In September 2003, they entered the housing loan business through an arrangement with HDFC Ltd, whereby they sell HDFC Home Loan product. During the year 2004-05, the Bank expanded the distribution network with the number of branches increased from 312 Nos to 467 Nos and the size of the Bank's ATM network increased from 910 Nos to 1147 Nos. During the year 2005-06, the Bank launched the 'no-frills account', a basic savings account offering to the customer. Also, the distribution network was expanded with the number of branches increased from 467 Nos (in 211 cities) to 535 Nos (in 228 cities) and the number of ATMs from 1147 Nos to 1323 Nos. During the year 2006-07, the distribution network was expanded with the number of branches increased from 535 Nos (in 228 cities) to 684 Nos (in 316 cities) and the number of ATMs from 1323 Nos to 1605 Nos. They commenced direct lending to Self Help Groups. Also, they opened a dedicated branch for lending to SHGs, in Thudiyalur village (Tamil Nadu). In September 28, 2005, the Bank increased their stake in HDFC Securities Ltd from 29.5% to 55%. Consequently, HDFC Securities Ltd became a subsidiary of the Bank. During the year 2007-08, the Bank added 77 Nos new branches take the total to 761 Nos branches. Also, 372 Nos new ATMs were also added taking the size of the ATM network from 1605 Nos to 1977 Nos. HDB Financial Services Ltd became a subsidiary company with effect from August 31, 2007. In June 2, 2007, the Bank opened 19 branches in a day in Delhi and the National Capital Region (NCR). During the year 2008-09, the Bank expanded their distribution network from 761 branches in 327 cities to 1,412 branches in 528 Indian cities. The Bank's ATMs increased from 1,977 to 3,295 during the year. As per the scheme of amalgamation, Centurion Bank of Punjab Ltd was amalgamated with the Bank with effect from May 23, 2008. The appointed date for the merger was April 01, 2008. In October 2008, the bank opened their first overseas commercial branch in Bahrain. The branch offers the bank's suite of banking services including treasury and trade finance products for corporate clients and wealth management products for Non-resident Indians. During the year 2009-10, the Bank expanded their distribution network from 1,412 branches in 528 cities to 1,725 branches in 779 cities. The Bank's ATMs increased from 3,295 Nos to 4,232 Nos during the year. During the year 2010-11, the Bank expanded their distribution network from 1,725 branches in 779 cities to 1,986 branches in 996 Indian cities. The Bank's ATMs increased from 4,232 to 5,471 Nos.

MEANING OF RETAIL

Retail means sale of goods in small quantities, it is concerned with buying of goods in small quantities from the wholesaler and selling them in small quantities to the ultimate consumers as per their requirements. The person engaged in this trade is called the retailer. He acts as a link between the wholesaler and the customers. In retail trade goods are sold to the ultimate consumers for personal use and for the use of the business in small quantities only. The retailer does not specialize in a particular line or a particular product. Rather he maintains a large variety of goods. Generally, sales are limited to a local and on a small scale.
MEANING OF BANKING

Banking has come to occupy a pivotal position in a nations economy. According to the modern concept, banking is a business which not only deals with borrowings, lending and remittance of funds, but also an important instrument for fostering economic growth.

The Banking Regulation Act 1949, defines the term banking as the accepting for the purpose of lending or investment of deposits of money from the public or otherwise and withdraw able by cheque, draft, order or otherwise. Thus, the essentials of banking are: (1) There should be acceptance of deposited. (2) Deposits should be from the public. (3) Deposits should be repayable on demand or expiry of a term or after a specified periods. (4) The purpose of deposits should be lending or investment. Bank is an institution which deals in money and credit. It buys money from depositors and sell to the borrowers. It is body of persons whether incorporated or not who carry on the business of banking. A bank may defined as a corporation or person which collects deposits from the public, repayable on demand and which supplies and facilitates all kinds of exchanges.

RETAIL BANKING

Retail banking means mobilizing deposit form individuals and providing loan facilities to them in the form of home loans, auto loans, credit cards, etc, is becoming popular. This used to be considered by the banks as a tough proposition because of the volume of operations involved. But during the last couple of years or so, banks seem to have realized that the only sustainable way to increase deposits is to look at small and middle class consumer retail deposit and not the price sensitive corporate depositors. With financial sector reforms gathering momentum, the banking system is facing increasing companies from non-banks and the capital market. More and more companies are tapping the capital market directly for finance. This is one of the main reasons for the banks to focus vigourously on the much ignored retail deposits. Another reason is the current liquidity the margins are 1 to 2 percent above the prime rate; in retail market they are 3to4 percent. It is reported that Indian retail market has the potential to be second only to the USA. National Readership Survey 5puts Indian households with monthly of over Rs. 5000 at 4.5 million. According to the survey, the category of households with annual income of Rs. 2 lakhs and above is growing at the rate of 30 per cent per annum. No winder, banks with vision and insight are trying to woo this market through a series of innovative additions to their products, services, technology and marketing methods.

Fixed and unfixed Deposits, (cluster deposits which can be broken into smaller units to help meet depositors overdraft without breaking up entirely), centralised database for any branch banking (whereby the customer can access his account in any of the branches irrespective of where the account is maintained), room services (whereby the customers are visited at their residences offices to enable them to open their accounts), automatic teller machines, tele banking network, extended banking time, courier pickup for cheques and documents, etc are some of the privileges extended to the customers by the banks in are eagerness to cultivate the retail market. In short, in the bold new world of retail banking the customer is crowned as king.
RETAIL BANKING-A COOL OASIS

To bankers struggling through the shifting sands of corporate credit, retail banking looks like a cool oasis. Corporate Credit, retail banking looks like a cool oasis. Corporate customers rely less on commercial banks every day as other fund raising avenues present themselves. As this disintermediation takes place and competition shrinks margins, retail banking has gained an irresistible allure for banks because of its apparently higher margins and potential fir growth. With their large branch networks, banks have secured sizeable deposits-23 percent of GDP. On the assets side, however, retail advances account for a mere seven per cent of total lending. The penetration of products like car loans or credit cards is very low. With very few focused multi-line banks, non banks are often significant players in retail lending, as HDFC is in house loans. Yet, many non-banks lack the minimum size to make the necessary investments and address the challenges of retail banking. A large number of banks and non-banks have launched or relaunched retail products and are attempting to grow their share of the personal financial services market. Even the term lending institutions have decided that they need to go retail to raise funds. Many organization like ICICI are betting that a large part of their future growth will come from retail customers. Retail banking is much more than as opportunity to addressing dwindling margins. It is an imperative to preserve profits and market positions. Customers now have many more personal financial options, a growing credit culture, a willingness to switch between financial services providers, and a demand for lower interest rates. As they witness these trends, banks realize that they cannot remain passive. The new private sector banks are making inroads in the markets they serve, while competition from non-banks is growing.

In respect, older institutions need to revamp their distribution capabilities, customer management capabilities, operating culture, compensation system and operations processing.

WEB IMPACT ON BANKS RETAIL REVENUES: For all those gurus whove been predicting that the net will end the business of said banks, heres a shocker. Even in the SILICON valley-driven USA, Internet is not expected to have a major impact in banks retail revenues. The reason: the absence of a convenient alternative at present to using cash. According to a report by moodys Investors service, at least in the intermediate term, the internet is not expected to impact large US banks core profitability or competitive position. This is despite the despite business being the simple-most important profit source for most American retail banks. The core retail banking business of deposit taking will be sheltered form web-based competitors and margin shrinkage on this business. Need for convenient access to physical locations coupled with the advantages of multiple delivery channels like branch, ATM, telephone and computers, consumers need to leave money in transactional accounts; customer inertia and the relatively limited cost savings available to consumers from net banking, are cited as the main factors supporting its view. The moodys report, however, cautions that other consumer business such as residential mortgages, auto loans and credit cards may be more vulnerable to web-based competitors. However, most US banks have thin margins or low market shares in these businesses mitigating this impact, says the report made available to the Economic Times.

The rating agency is skeptical of banks ability to generate substantial incremental revenues from cross-selling financial products to existing customers via the net. Banks have to maintain a comprehensive and effective web based capability to maintain their competitive position, cautions moodys. The need for customers to take frequent physical receipts, make convenient physical receipts, make convenient physical delivery of cheques using ATMs, inhibition towards paying ATM charges for using another banks ATM network by the consumer and time consuming, difficult and disruptive nature of switching accounts also contribute to the stickiness of retail deposits. With low bank fees for individual transactions and relatively small bank deposits, the opportunity cost in terms of interest income for customers is not material where the deposits are not large. Banks offer convenience and choice and the web-based channels of banks have reported rapid growth in the number of customers by retaining current customers. According to moodys a survey indicated that 35 per cent of Internet banking customer disconnect because they dont find it convenient. Customers prefer to use a variety of channels to conduct their banking which is why it remains to be seen whether a business model based solely on internet banking will generate adequate returns and sustain long term competition against conventional banking systems. The advent of the internet could, however have a powerful effect on banks acquisition strategies by creating uncertainty about the value of purchasing large branch networks, the study says. For some banks, however, the Internet could facilitate an increase in fee income by generating fees from Internet service arrangements like bill presentment and clearing. However, if smart cards or stored value cards or other electronic cash substitute gain popularity, alternatives could become more attractive to customers. On the other hand, banks might be able to reduce costs of servicing the retail customers by moving them over into a paperless environment.

Banks could introduce various incentives to the persuade customers to forego paper statements for the basic savings account and credit card, says moodys.
THE RULES HAVE CHANGED

As the 1900s come to their close and we look eagerly towards the new millennium, a revolution that will change the rules and every thing we have understood of the retail market, financial products and other services. Economic boundaries are disappearing, and the global village is a reality where the retail customer will have a choice in a manner we may have never imagined. Providers of retail products and services will battle for market and market share. It is battle that will be fought at different levels and the real winner will be the customer, who will benefit from increased competition through better products, distribution, technology, pricing, and post transaction service. The quality and range of products will expand exponentially convenience of usage, customization to individual needs, and a host of other user-friendly add-ons will create a whole new frontier of applications. Companies will have to innovate and continuously upgrade their products. Anticipation, listening and responding to your customers needs, will be the buzz-words of this thrust. Distribution will be the next key benchmark of success. The customer will demand (and therefore the provider will have to respond) for greater convenience of access to the product or service and all this at the best cost of delivery. Re-defined methods, the use of technology specifically the Internet-and realigned strategies will drive this important criterion of success. Constraints of location, timing, accessibility etc will all be history. No matter how brilliant the product you have, your distribution flexibility will be the customers selection parameter. Again, quality of the product and responsive strategies for distribution will also have a link to price. Efficiencies on this front will be the next item on your report card. Through innovation in production and delivery and cost reduction strategies, the price to the customer will have to be at maximum benefit. The intelligent customer will be ruthless with any price distortions, which as a consequence of inefficiencies or market exploitation his cost benefit analysis will not allow for these variables.

Would you prefer a product, which (hopefully) is never expected to need post sale service or one which offers the best after sale service if required ? Clearly, the relationship with the customer starts with the transaction, does not and with it. Organisation we have to give equal importance to cost sale needs of customers as the pitch made prior to the sale. Technology will perhaps be the single largest driver of this detail thrust. The entire strategy will evolve around the absolute ability of the organisation to be at the cutting as edge of technology. We will have to invest in technology far ahead of immediate needs and be able to anticipate the future direction at a pace we are perhaps not used to. Being able to keep abreast, but more importantly, being able to recognize the immense potential that technology provides at all stages in the retail chain will be of paramount importance. To leverage, exploit and link technology to your business will be the greatest challenge of the new millennium and I am convinced that the retail war will be won and lost on this one aspect, purely because technology increasingly we influence on the entire chain in a retail business cycle. Above all these, I would list attitude towards customer as the single point basis on determining the winner of the race. Attitude to the customer will influence all the areas we have discussed and will ensure excellence in each one of them. It is an intangible, it is not prescribed in a manual nor is it a quantifiable item in the balance sheet, but an organizations attitude to the customer will be the basis determinant of success for any retail operation. There are interesting and challenging times ahead the future promises a lot but will also make extraordinary demands. The customer will be the most important aspect of your business and ultimately the winner of the retail war. RISK INVOLVED IN RETAIL BUSINESS There are of course, considerable risks in retail banking. They are : (a) (b) (c) (d) Databases on credit history are large. Collection mechanisms are poor. Investments in technology are large. Operating efficiency level needs to be very high.

(e) (f) (g) (h)

Unlike corporate banking, retail banking involves a large number of small accounts. Demands on processing capabilities are higher. Retail segment is not something you can get into overnight. The right systems and the right architecture needs to be put in place first.

ALL RETAIL LOANS EXPENSIVE | HDFC BANK

HDFC Bank is the last bank to finally raise lending and fixed deposit. The central bank increased 50-basis points (100 basis points (bps) = 1%) increase in policy rates on 3rd May. This means that all retails loans (car loans, consumer and personal loans) and corporate loans have become expensive but the good news is that even the FD rates have gone up, so you earn more on your fixed deposits. ICICI Bank and SBI have also raised lending and borrowing rates. The rates are effective from Thursday, 12th May by 55 bps to 9.25% per annum which is competitive with SBI and ICICI Bank. HDFC Bank also hiked its prime lending rate (PLR) by 50 bps to 17.75%. Banks FD rates are highest in the 46-90 days bracket where it will now offer 6.25% per annum, up 125 bps from 5% earlier. The bank has raised rates for nine different tenures of short terms, and has left rates for FDs of more than one year unchanged. Since July 2010, when the base rates replaced the benchmark lending rate (BPLR) for the banking industry, SBI and HDFC Bank, have both raised their rates five times while ICICI Bank has done it only four times. From 7.25% on 1st July 2010, HDFC Banks base rate has increased by sum 200 bps to 9.25% now. For retail customers, the current hike by HDFC Bank will make auto, consumer and personal loans expensive, but not home loans because all mortgage loans by the bank are sourced from its parent HDFC, which has not, raised its rate yet. But HDFC is expected to increase rates very soon. Click to Apply for HDFC Products

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HDFC Bank: Retail lending focus to boost future earnings

Crystal Barretto, ET Bureau Jan 20, 2012, 05.50AM IST

Tags: Retail lending| HDFC Bank Ltd.| earnings

Stellar operations during the quarter to December 2011 at HDFC Bank reflected in a 31% rise in earnings per share for India's second-largest private lender, in line with expectations and driven by strong growth in treasury and the retail segment. The bank's stronger focus on retail lending rather than wholesale is expected to continue for the March 2012 quarter as well. Assuming that the economy sustains a growth of 6.5-7%, HDFC Bank should be in a position to comfortably achieve a loan growth of close to 18-20% by the end of this fiscal, outperforming its peers. That should translate into an annual earnings growth of 25-30% for the bank's shareholders in a challenging environment for loan growth. A series of interest rate hikes through 2011 has made borrowings expensive for industry, and putting the brakes on capital expenditure across sectors. But despite few new green-field projects, HDFC Bank's gross advances grew by 22% which is considerably higher than the industry average of about 16%. The growth came from the retail segment where margins are higher than corporate lending. Retail lending contributed to over half of the loan book and is expected to drive growth in the coming quarters as well. Within the segment, home loans witnessed the fastest growth followed by commercial vehicles. The bank's continued expansion paid off well, with savings account deposits rising 17%. During the quarter, the bank opened 421 new branches which took its operating expenses up by 6%. Overall, its net interest income, which is the interest it earns after making interest payments, rose 12% to Rs 3,116 crore - slightly below expectations. Its net interest margin stood firm at 4.1%, which is within its comfort zone of 3.9-4.2% while its nonperforming assets as a percentage of net advances remained stable at 0.2%. Return on assets has improved by 10 basis points, but this is still 110 basis points lower than last year's return of 1.6%. Also, the 10-basis-points rise in its cost of funds is a bit of a concern. Following the announcement of its results, shares of HDFC Bank rose 1% to close at Rs 485 which is 4.4 times its book value.

HDFC Bank Ltd was promoted in the year 1994 by the premier housing finance company of the country, HDFC Ltd. The Bank commenced operations as a Scheduled Commercial Bank in January 1995.

"Today the Bank has a nationwide network of over 2,111 branches and 5,998 ATMs spread over 1,111 towns and cities across India". The Bank's American Depository Shares (ADS) are listed on the New York Stock Exchange (NYSE) and the Global Depository Receipts (GDRs) are listed on Luxembourg Stock Exchange. The Bank has been bestowed with numerous awards and accolades from top national and international agencies & magazines. HDFC Bank comprises of a dynamic and enthusiastic team determined to accomplish the vision of becoming a World-class Indian bank. Our business philosophy is based on our four core values - Customer Focus, Operational Excellence, Product Leadership and People. We believe that the ultimate identity and success of our bank will reside in the exceptional quality of our people and their extraordinary efforts. We are committed to hiring, developing, motivating and retaining the best people in the industry The Banks objective is to build sound business franchises across distinct businesses so as to be a preferred provider of banking services for target retail and wholesale customer segments. We are committed to healthy growth in profitability while ensuring the highest levels of ethical standards, professional integrity, corporate governance and regulatory compliance.

Credit Manager - Retail Credit Insta Loans

(Pune)

Responsibilities: To appraise loan files at Insta Desk To ensure portfolio quality for the Product in the location, while maintaining the service levels (TAT) to the customer (Internal and External). To reduce data entry errors as part of underwriting Adherence to the policy/process laid out by the Central team on all applications being processed To monitor non starters/Cheque bounce trends, maintain adequate knowledge of channels and their sourcing pattern. To give feedback to channels/vendors on a monthly basis on their performance levels and take corrective action to improve the efficiency. To ensure Audit compliance and regulatory compliance for the location. To ensure Deferral Clearance by Coordinating with Customer, Sales and OPS Team.

To interact closely with other functions such as Sales/Operations/Collections/CPU/Policy/Product etc in ensuring a smooth day to day functioning at the location.

Requirements: The applicant should be a Post Graduate in Finance/Commerce. Atleast 2 years experiece in Credit Appraisal / Operations of Asset products (specifically Personal loan) is required. Prior knowledge of Retail Assets Product and Policies will be an added advantage. The employee should be well versed with MS Office esp. MS Powerpoint and MS Excel

The Bank has adopted the following fair practices code in relation to its lending activities:

Applications for loans and their processing The bank would have loan application forms for retail advances and credit cards. These would include information about the fees/charges, if any, payable for processing, the amount of such fees refundable in the case of non acceptance of application, pre-payment options and any other matter which affects the interest of the borrower, so that a meaningful comparison with that of other banks can be made and an informed decision can be taken by the borrower. As part of the wholesale banking business, the bank has various segments to which credit facilities are provided for their business requirements. These include a wide range of customers and range from small & medium enterprises to large corporate borrowers. The bank has a process for identification of target customers to whom facilities can be provided based on customer selection and risk assessment for that segment. Thus, the focus is on contacting prospective customers and encouraging them to avail of banking services from HDFC Bank based on the incremental value we can add to a customer's business, rather than customers making applications to the Bank for facilities / services. Thus, for the wholesale banking segment, we do not have any standardized application forms to be submitted by prospective customers. The bank would give an acknowledgement for receipt of all retail loan applications. Time-frame within which loan applications will be processed would be indicated in the acknowledgement of such applications. The bank would verify the loan applications within a reasonable period of time. If additional details / documents are required, it would intimate the borrowers immediately. In the case of all borrowers seeking loans, the bank would convey in writing, the main reason/reasons which, in the opinion of the bank after due consideration, have led to rejection of the loan applications. In case the proposal does not meet the internal risk parameters of the bank, the borrower would be intimated accordingly. Loan appraisal and terms/conditions The bank would ensure that there is proper assessment of credit application made by borrowers. The assessment would be in line with the bank's credit policies & procedures and relevant regulatory guidelines. The bank would convey to the borrower the credit limit along with the terms and conditions thereof and obtain the borrower's acceptance of these terms and conditions, given with his full knowledge on record. In respect of approved credit proposals, terms and conditions and other caveats governing credit facilities given by the bank would be reduced in writing and duly certified by a bank official. A copy of the loan agreement along with a copy each of all enclosures quoted in the loan agreement may be furnished to the borrower if asked for.

The sanction letter or the loan agreement would stipulate if the credit facilities are solely at the discretion of the bank. The bank may disallow facilities that involve drawings beyond the sanctioned limits, honouring cheques issued for the purpose other than specifically agreed to in the credit sanction, and drawing on a borrowal account on its classification as a non-performing asset or on account of non-compliance with the terms of sanction. Further the bank does not have an obligation to meet additional requirements of the borrowers on account of growth in business etc. without proper review of credit limits. Any increase/additional limits/changes in facilities requested by the customer would be considered by the Bank based on its internal policies and assessment and the Bank is not under any obligation to accede to the specific request of the borrower. In the case of lending under consortium arrangement, the bank would endeavour to evolve procedures to complete appraisal of proposals in a time bound manner to the extent feasible, and communicate its decisions on financing or otherwise within a reasonable time, in co-ordination with other members of the consortium. Disbursement of loans including changes in terms and conditions The bank would ensure timely disbursement of loans sanctioned in conformity with the terms and conditions governing such sanction. It would give notice of any change in the terms and conditions including interest rates, service charges etc. Revisions to the Bank's PLR are notified through the Bank's website. They are also covered in leading financial newspapers. Any revisions in this are applicable to all PLR linked facilities from the date of PLR revision. For facilities linked to other benchmark rates, these are revised as per prior agreement with the customer, the process for which is covered in the sanction letter duly accepted by the customer on the loan agreement. For all other facilities, any change in interest rates is with prior intimation to the customer. All revisions in other fees and charges are also informed to the customer in advance. Post disbursement supervision The bank would carry out post-disbursement supervision in accordance with normal banking practice, the terms of sanction, and the guidelines issued by the Reserve Bank of India from time to time. Before taking a decision to recall / accelerate payment or performance under the agreement or seeking additional securities, the bank would give notice to borrowers, as specified in the loan agreement or a reasonable period, if no such condition exits in the loan agreement. The bank would release all securities on receiving payment of loan or realisation of loan subject to any legitimate right or lien for any other claim that it may have against borrowers. If such right of set off is to be exercised, borrowers shall be given notice about the same with full particulars about the remaining claims and the provisions under which the bank is entitled to retain the securities till the relevant claim is settled/paid. General The bank would refrain from interference in the day-to-day affairs of the borrowers except for what is provided in the terms and conditions of the loan sanction documents (unless new information, not earlier disclosed by the borrower, has come to the notice of the bank). This however does not imply that the bank's right of recovery and enforcement of security under law as well as appointment of nominee directors, where required, is affected by this commitment. The bank would not discriminate on grounds of sex, caste and religion in the matter of lending. However, this does not preclude the bank from participating in credit-linked schemes framed for weaker sections of society. In the matter of recovery of loans, the bank would not resort to undue harassment or use of force. In case of receipt of request for transfer of borrowal account, either from the borrower or from a bank/financial institution, which proposes to take- over the account, the consent or otherwise i.e., objection of the bank, if any, would be conveyed within 21 days from the date of receipt of request. Grievance Redressal Mechanism In case of any complaint/grievance, the applicant/borrowers may contact the following: Address: Ripal Kumar Sheth Grievance Redressal Officer, Grievance Redressal Cell, HDFC Bank Ltd., 12th Floor, "C" Wing, Trade World, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel (West), Mumbai- 400 013.

Email: grievance.redressal@hdfcbank.com The Bank will acknowledge receipt of such complaint within 3 days, and will ensure that a response is provided within a period of 15 days. Disputes arising out of decisions of the bank's functionaries would be disposed of at the next higher level within the Department concerned or at a central level in the bank. In order to enhance value and relevance to the borrowers this code would be under review from time to time. The Bank would, therefore, greatly value any suggestions for improvement.

Advertised on 15-3-13. Application deadline on 14-4-13.

HDFC Bank Ltd was promoted in the year 1994 by the premier housing finance company of the country, HDFC Ltd. The Bank commenced operations as a Scheduled Commercial Bank in January 1995. Today the Bank has a nationwide network of over 1725 branches and 4232 ATMs spread over 779 towns and cities across India The Bank's American Depository Shares (ADS) are listed on the New York Stock Exchange (NYSE) and the Global Depository Receipts (GDRs) are listed on Luxembourg Stock Exchange. The Bank has been bestowed with numerous awards and accolades from top national and international agencies & magazines. HDFC Bank comprises of a dynamic and enthusiastic team determined to accomplish the vision of becoming a World-class Indian bank. Our business philosophy is based on our four core values - Customer Focus, Operational Excellence, Product Leadership and People. We believe that the ultimate identity and success of our bank will reside in the exceptional quality of our people and their extraordinary efforts. We are committed to hiring, developing, motivating and retaining the best people in the industry The Banks objective is to build sound business franchises across distinct businesses so as to be a preferred provider of banking services for target retail and wholesale customer segments. We are committed to healthy growth in profitability while ensuring the highest levels of ethical standards, professional integrity, corporate governance and regulatory compliance.

Credit Manager - Wholesale Credit Risk

(Delhi)

Responsibilities: Managing of Pre Appriasal processes including CPA management, Assessment of proposals logged in

Managing TAT Monitoring of portfolio in view of Delinquency , Watchlist and Exit Accounts Submission of reports to Regional office/CRU on monthly/weekly basis

Credit Appraisal and analysis of proposals including assessment of the fund and non fund based limits and other vanilla Delinquency tracking and management, monitoring of the portfolio Monitoring house keeping items Creating and Managing a network of external agencies for local inputs / reference checks / CPV on cases Interact with retail asset credit / collection managers Should be able to travel and meet customers in the region Extensive training to internal & external stakeholders( viz CPA etc)

Requirements: Professionally qualified( MBA, CA, CFA or any other relevant post graduate qualification) Total exp of 5-7 yrs of relevant credit experience in handling credit / trade finance products such as Cash credit, Term loans, BGs, LCs, etc or prior experience in loans / advances in a commercial banking set up Thorough under standing of the entire product range covering fund and non fund based products being offered in the SME space . Further knowledge of the forex / derivatives and other foreign curency limits is desired Adequate knowledge of the SME industries Working experience in any of the markets in the North

Documents
You can download the Application Form and submit alongwith the following documents for an approval of loan. Salaried Customers Application form with photograph Identity and Residence Proof Latest Salary-slip Form 16 Self Employed Professionals Application form with photograph Identity and Residence Proof Education Qualifications Certificate and Proof of business existence Last 3 years Income Tax returns (self and business) Last 3 years Profit /Loss and Balance Sheet Last 6 months bank statements Self Employed Businessman Application form with photograph Identity and Residence Proof Education Qualifications Certificate and Proof of business existence Business profile Last 3 years Income Tax returns (self and business) Last 3 years Profit /Loss and Balance Sheet Last 6 months bank statements (self

Last 6 months bank statements Processing fee cheque

and business) Processing fee cheque Processing fee cheque

HDFC Bank's special rates on personal loans to 3 categories

PTI Sep 15, 2010, 08.10pm IST

Tags: special rate| personal loan| HDFC Bank Ltd.

MUMBAI: In view of the ensuing festive season, HDFC Bank plans to offer special rates for personal loans to Government and Defense employees and teachers. Under the scheme, the bank has planned special offers for all the three categories of customers with 3-4 per cent waiver on existing rack rates (minimum of 14.5 per cent) for personal loans, a press release issued here said. The bank would also provide a 0.50 per cent discount on processing fees to its salary account holders. The bank normally charges 2.50 per cent as processing fees. HDFC has offered a 2 per cent discount on processing charges for all new customers seeking loans against gold. Customers can avail this offering anytime up to September 30, the release said.