HDFC bank was incorporated in August 1994 in the name of ‘Housing Development Finance Corporation Limited’, with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995. Currently the bank has a network of nationwide network of 1,416 Branches and 3,570 ATMs in 550 Indian towns and cities. All branches are linked on an online real-time basis and Customers in over 500 locations are also serviced through Telephone Banking.
The Times Bank limited was merged with HDFC in 2000. This was followed by the RBI granting approval in 2008 to the amalgamation of the Centurion Bank of Punjab with HDFC. The merged entity will have a strong deposit base of around Rs. 1,22,000 crore and net advances of around Rs. 89,000 crore. The balance sheet size of the combined entity would be over Rs. 1,63,000 crore.
HDFC bank was the first bank in India to launch an International Debit Card in association with VISA (VISA Electron) and issue the Mastercard Maestro debit card as well. The Bank has a wide array of retail loan products including Auto Loans, Loans against marketable securities, Personal Loans and Loans for Two-wheelers.