HDFC Bank Wikipedia

Mumbai is home to the corporate headquarters of Indian banking and financial services provider HDFC Bank Limited. As of April 2021, it was the 10th-biggest bank in the world by market capitalization and the largest private sector bank in India in terms of assets. With a market valuation of $122.50 billion, it ranks third among all companies listed on Indian stock exchanges. With about 120,000 workers, it ranks as India's fifteenth largest employer.

One of the most reputable and trustworthy banks in India is HDFC Bank, which provides a variety of banking and financial services to its clients, including debit and credit cards as well as digital, mobile, and net banking. In terms of deposits and assets, the bank has continuously been included among India's top ten banks.

It has won multiple accolades and recognitions for its customer service and product offerings, and the RBI named it the Best Bank in India.

Since its incorporation in August 1994, HDFC Bank has expanded its statewide network to include 12,500 ATMs and 4,500 branches throughout Indian villages and cities. The adoption of HDFC Bank's corporate governance policy was done so with an eye toward ensuring both organizational efficiency and justice for all stakeholders. Along with a variety of lending products, including house loans, personal loans, auto loans, and business loans, it also provides a range of investment and insurance products.

History
Incorporated in 1994, HDFC Bank is a subsidiary of the Housing Development Finance Corporation, with its registered office located in Mumbai, Maharashtra, India. Manmohan Singh, the Union Finance Minister at the time, officially opened the company's first corporate office and full-service branch at Sandoz House, Worli.

With a market valuation of more than INR 5.27 lakh crore (US$76.48 billion), it is currently the biggest private sector bank in India. This was confirmed in 2018. Since its incorporation in August 1994, the company has expanded to rank among India's biggest providers of banking and financial services, with a network of more than 5,200 branches and 14,500 ATMs.

In 1998, HDFC Bank introduced the first credit card in India, marking a crucial turning point in the country's financial history. For the first time, Indian customers could now easily and safely make payments with plastic money. The first bank in India to install ATMs in 2002 was HDFC Bank, which allowed users to access their accounts from anywhere. This was a ground-breaking move that increased consumer convenience and decreased the need for patrons to visit branches for transactions.

Customers of HDFC Bank were able to access their bank accounts and handle their finances while on the road when the bank introduced its mobile banking service in 2007. This was yet another significant move toward increasing consumer convenience and decreasing the number of branch visits.

The PayZapp mobile wallet, introduced by HDFC Bank in 2013, enables users to send and receive money using their phones. This marked a significant advancement in providing consumers with a simple and safe means of making digital payments. Contactless cards were introduced by HDFC Bank in 2017, enabling users to make secure and prompt payments with a simple tap.

This was a significant step toward giving consumers even greater convenience and security when using digital payments. Additionally, in 2017, HDFC Bank became the first financial institution in India to launch the Unified Payments Interface (UPI), which enables users to transfer money and make payments with a few simple taps. Digital payment speed and ease are getting better all the time.

With the introduction of its open banking platform in 2018, HDFC Bank gave its clients safe access to financial services provided by third parties. This was a significant step in building a safe and transparent platform that would allow users to access a variety of financial services.

Since then, HDFC Bank has expanded to rank among India's biggest providers of banking and financial services. Deposits, loans, credit cards, debit cards, investment services, money transfer services, insurance, mutual funds, and more are just a few of the many banking goods and services it provides. In addition, it offers a host of other services like phone, mobile, and online banking.

As one of the most well-known and trustworthy companies in India, HDFC Bank has built a solid name for itself via its innovative offerings, good financial results, and dedication to providing excellent customer service. It has received multiple honors, such as "The Most Valuable Bank Brand in India" from Brand Finance, "The Best Bank in India" from Business Today, and "The Best Private Sector Bank in India" from The Economic Times.

Mission

“HDFC Bank’s mission is to be a world-class Indian bank. They have a two-fold objective: first, to be the preferred provider of banking services for target retail and wholesale customer segments. 

The second objective is to achieve healthy growth in profitability, consistent with the bank’s risk appetite.”