User:Pinakip/sandbox

HDFC Securities Limited
Company type	Public
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 Aseem Dhru (MD)
Products	Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management
Revenue	US$ 6.487 billion (2012)
Operating income	US$ 1.451 billion (2012)
Net income	US$ 978.3 million (2012)
Total assets	US$ 70.17 billion (2012)
Total equity	US$ 7.793 billion (2012)
Number of employees	66,076 (2012)
Website	HDFCBank.com

This is the user sandbox of Pinakip. A user sandbox is a subpage of the user's user page. It serves as a testing spot and page development space for the user and is not an encyclopedia article. Create or edit your own sandbox here.

Other sandboxes: Main sandbox | Template sandbox

Finished writing a draft article? Are you ready to request review of it by an experienced editor for possible inclusion in Wikipedia? Submit your draft for review!

HDFC Bank Limited (BSE: 500180, NSE: HDFCBANK, NYSE: HDB) is an Indian financial 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 ₹5,167.07 crore (US$620 million), up 31.6% from the previous fiscal.

On 14 March 2013 an online magazine named Cobrapost.com released video footage from Operation 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]

History

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

For customers from ongoleBlue-chip manufacturing companies in the Indian corp to small & mid-sized corporates and agri-based businesses 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

HDFC Bank was the first bank in India to launch an International Debit Card in association with VISA (Visa Electron) and issues the Master Card 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

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

An HDFC Bank Branch

HDFC Bank is headquartered in Mumbai and the Bank’s distribution As of June 30, 2013, the Bank’s 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.

References

HDFC Bank IFSC Code

^ "HDFC_Bank_Annual_Report_0809" (PDF). //www.hdfcbank.com. Retrieved 26 July 2010. {{cite web}}: External link in |publisher= (help)
^ ^a ^b ^c ^d ^e ^f "2011 HDFC Bank Limited". Yahoo.
^ http://www.hdfcbank.com/aboutus/default.htm
^ "Money laundering case: ICICI bank suspends 18 employees". zee news. 15 March 2013. Retrieved 16 March 2013.
^ "Probes Begin as Top Indian Banks Are Embroiled in Sting Operation". Wharton School of the University of Pennsylvania. Retrieved 16 March 2013.
^ Ronamai, Raymond (15 March 2013). "India's Private Banks Under Scanner: Is RBI to be Blamed for Money Laundering?". International Business Times. Retrieved 16 March 2013.
^ ""RBI penalises banks after sting expose"".

External links

Official website
Business data for HDFC Bank:
- SEC filings

Category:Companies listed on the New York Stock Exchange Category:Banks of India Category:Economy of Mumbai Category:Economy of Maharashtra Category:Companies based in Mumbai Category:Banks established in 2004 Category:BSE SENSEX Category:S&P CNX Nifty

[1] "HDFC_Bank_Annual_Report_0809" (PDF). //www.hdfcbank.com. Retrieved 26 July 2010. {{cite web}}: External link in |publisher= (help)

[10K-2] ^ ^a ^b ^c ^d ^e ^f "2011 HDFC Bank Limited". Yahoo.

[3] ttp://www.hdfcbank.com/aboutus/default.htm

[Money_laundering_case:_ICICI_bank_suspends_18_employees-4] "Money laundering case: ICICI bank suspends 18 employees". zee news. 15 March 2013. Retrieved 16 March 2013.

[Probes_Begin_as_Top_Indian_Banks_Are_Embroiled_in_Sting_Operation-5] "Probes Begin as Top Indian Banks Are Embroiled in Sting Operation". Wharton School of the University of Pennsylvania. Retrieved 16 March 2013.

[India's_Private_Banks_Under_Scanner:_Is_RBI_to_be_Blamed_for_Money_Laundering?-6] Ronamai, Raymond (15 March 2013). "India's Private Banks Under Scanner: Is RBI to be Blamed for Money Laundering?". International Business Times. Retrieved 16 March 2013.

[7] ""RBI penalises banks after sting expose"".

[1]

[2]

[3]

[4]

[5]

[6]

[7]