History
HDFC which abbreviates to Housing Development Finance Corporation Limited was among the very first to obtain an 'In Principle' sanction from the Reserve Bank of India which is shortly referred to as RBI to start a bank in the private sector, as part of the RBI's liberalization of the Indian Banking Industry in the year 1994. The bank was then altered in the month of August in the year 1994 in the name of 'HDFC Bank Limited', with its registered branch office in the vibrant city of Mumbai, India. The HDFC Bank began its procedures as a Scheduled Commercial Bank in the month of January in the year 1995.As of the month June 30th in the year 2014, the Bank's sharing network was at about 3,488 office branches in nearly 2,231 cities. All the office branches are connected on an online real-time source. Large number of customers throughout India are also serviced through numerous delivery networks such as Net Banking, Phone Banking, Mobile Banking and SMS based banking.
The Bank's development plans take into consideration the necessity to have an existence in all the major manufacturing and business centers, where its commercial customers are situated, as well as the requirement to shape a solid wholesale customer base for both credits and loan products. Being a clearance or settlement bank to numerous leading stock exchanges, the Bank has office branches in centers where the NSE or BSE have a solid and active fellow base.
The Bank also has a large network of about 11,426 ATMs all over India. HDFC Bank's large ATM network can be used by all the national and international Visa or MasterCard, Visa Electron or Maestro, Plus or Cirrus and American Express Credit or Charge cardholders. HDFC Bank's main job is to become a World Class Indian Bank. The aim is to shape sound customer branch offices across various distinct businesses so as to be the chosen provider of banking facilities for board retail and extensive customer sectors, and to accomplish healthy progress in profitability, regular with the bank's risk desire. The bank is dedicated to sustain the uppermost level of moral standards, expert veracity, business governance and supervisory compliance. HDFC Bank's trade philosophy is very much based on the five fundamental values: Customer Focus, Operational Excellence, Product Leadership, Sustainability and People.
HDFC Bank functions in an exceedingly computerized setting in terms of Information technology and communication systems. All the bank's branch offices have their own online connectivity, which allows the bank to provide speedy money transfer amenities to its clients. Multi office branch admission is also delivered to retail clients through the branch office network and Automated Teller Machines (ATMs).
The Bank has made considerable pains and funds in obtaining the finest technology existing worldwide, to shape the organization for a world class bank standard. In expressions of central banking software, the Corporate Banking trade is maintained by Flexcube, while the Retail Banking business is maintained by Finware, both developed from i-flex Solutions Ltd. The machines are open, scalable and web enabled.
The Bank has prioritized its commitment to technology and the world conquering internet as one of its important goals and has previously made important progress in the web enabling its main businesses. In each of the Bank's businesses, the Bank has achieved succeess in leveraging its marketplace position, skill and technology to create a viable advantage and build marketplace share.HDFC Bank activated its processes in the year 1995 with a simple mission which is to be a "World class Indian Bank". It realized that only a single minded focus on the product excellence and service quality that would help it get there. It has won lot of awards ever since as follows:
In the year 2014:
The Asian Banker
Strongest Bank in India in the Asian Banker 500 (AB 500) , Strongest Bank by Balance Sheet Ranking 2014
Dun & Bradstreet - Polaris Financial Technology Banking Awards 2014
- Best Bank - Managing IT Risk (Large Banks)
- Best Bank - Mobile Banking (Large Banks)
- Best Bank - Best IT Team (Private Sector Banks)
Forbes Asia
Fab 50 Companies List for the 8th year
BrandZ TM Top 50 Most Valuable Indian Brands study by Millward Brown
India's Most Valuable Brand
Asiamoney
Best of Best Domestic Banks - India
Dun & Bradstreet - Manappuram Finance Limited Corporate Award 2014
Best Corporate in Banking Sector
In the year 2013:
Asiamoney
- Best Domestic Bank in India
- Best Local Cash Management Bank in India
- Aditya Puri - Best Executive in India
Institute for Development and Research in Banking Technology Awards
- Best Bank - Managing IT Risk (Large Banks)
- Best Bank - Mobile Banking (Large Banks)
- Best Bank - Best IT Team (Private Sector Banks)
Businessworld
Best Bank in India (Large Banks)
Guinness World Record
A GUINNESS WORLD RECORD created for the Largest Blood Donation Drive across multiple venues, in a single day. Global Finance Survey -World's Best Banks 2013
Best Bank in India
Outlook Money Awards 2013
Best Bank in Large Banks Category
IBA Innovation Awards
Most Innovative use of Technology
Dun & Bradstreet Polaris Financial Technology Banking Award 2013
- Best Private Sector Bank Technology Adoption
- Best Private Sector Bank Retail
- Overall Best Private Sector Bank
Institutional Investor
- Best Bank in Asia
- Mr. Aditya Puri - Best CEO
Forbes Asia
Fab 50 Companies List for the 7th year
Sunday Standard Best Banker Awards
- Best Private Sector Bank: Large
- Safest Bank: Large
- Mr. Aditya Puri: Top Achiever
UTI Mutual Fund CNBC TV 18 Financial Advisory Awards 2012
Best Performing Bank - Private
Asia Money 2013
- Best Domestic Bank in India
- Mr. Aditya Puri: Best Executive in India
MACCIA Awards 2013
Best in Financial Services: Bank Category
Dun & Bradstreet Corporate Awards 2012
Best in banking sector
NDTV Profit Business Leadership Awards 2012
Winner in the banking category
NASSCOM CNBC–TV18 IT Innovation Award
Best IT Driven Innovation in Banking (COMMERCIAL)
The National Quality Excellence Awards
Best Customer Service Result
FE Best Bank Awards
- Best Bank: New Private sector
- Best in Strength & Soundness
- Mr. Aditya Puri: Best Banker
Skoch Financial Inclusion Awards 2013
Organization of the Year