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HDFC Bank
BSE: 500180|NSE: HDFCBANK|ISIN: INE040A01026|SECTOR: Banks - Private Sector
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Company History - HDFC Bank
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 India’s First Rural Banking BPO At Tirupathi
 
 - HDFC Bank Launches India’s 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 1 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.
 
Source : Dion Global Solutions Limited
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