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HDFC — Housing Development Finance Corporation Bank
HDFC Bank Full-Form refers to the Housing Development Finance Corporation Bank. HDFC is a financial services and banking company in India. It has headquarters in Mumbai. It is among the first banks to which RBI granted ‘in-principle’ approval to set up a banking institute in the private sector. This approval was granted as a part of the Indian Banking Industry’s liberalization by the Reserve Bank of India in the year 1994. During that year, HDFC was incorporated as the `HDFC Bank Ltd’.
HDFC bank provides a large number of banking services. These services cover the investment and commercial banking, and the branch/transactional banking on the wholesale and retail side respectively. Its main business segments consist of wholesale banking, treasury and retail banking. The bank primarily targets the large manufacturing companies of the corporate sector in India. It also covers the mid-sized and small agro-based businesses and cooperates at a lesser scale.
The bank offers a large number of services to these customers. These services include cash management, trade services, working capital finance, transactional services, etc. It also offers structured solutions that combine the services of cash management with distributor finance. This facilitates superior management of the supply chain for its corporate clients. It is among the leading providers of the transactional banking solutions and cash management services to stock exchange members, corporate customers, banks and mutual funds.
The main aim of the BDFC’s retail bank is to offer a full range of banking services and financial products to its target customers. It also focuses on providing a one-stop window to all the banking needs of the customers. The world-class services back the BDFC products and make deliveries using its wide branch network and alternate channels like mobile banking, phone banking, ATMs and net banking. A large range of the products pertaining to retail loan is also provided by the bank. These products include loans for automobiles and two-wheelers, personal loans, etc. It also provides DP or Depository Participant services, thereby giving the facility of holding the investment in the electronic form for the customers.
The bank provides products in three main areas within the treasury segment. These areas are equities, debt securities & local currency market, and foreign exchange. The treasury system of the bank provides various treasury products along with the product structures. In the personal banking category, BDFC products include salary accounts, fixed deposits, safe deposit lockers, credit cards, prepaid cards, forex services, Instant-Alerts, Instant-Query, savings and current accounts, Demat accounts, loans, debit cards, insurance & investment, payment services, and ATM.
The distribution network of the BDFC consists of more than four thousand branches that are located in more than twenty-four hundred cities. All branches of the bank are linked with each other on the basis of an online real-time system. The bank also serves its customers using numerous delivery channels like net banking and SMS based banking. Its network also has eleven thousand ATMs all over India.
Capital Structure of HDFC Bank
Currently, HDFC Bank has an authorized capital of five billion rupees, out of which four billion rupees come in the paid-up amount. It holds nineteen per cent in terms of the equity share. The equity share of the His or Foreign Direct Investment is around twenty-eight per cent, and the ADS depository holds seventeen per cent of the shares. There are five hundred thousand shareholders in this bank. The BDFC shares are listed in the National and Mumbai Stock Exchange. In the NRI Banking segment, it offers services like foreign currency deposits, Quick remit (for customers in UK, Southeast Asia, North America and Europe), Cheque Lock Box, Private Banking, etc.