The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an ‘in principle’ approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of RBI’s liberalisation of the Indian Banking Industry in 1994.
Who is owner of HDFC Bank?
Aditya Puri (Sep 1994–)
What is the work of HDFC Bank?
Headquartered in Mumbai, HDFC Bank is a new generation private sector bank providing a wide range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side.
What is the full form of Axis Bank?
On account of some technical issues, the board pertaining to UTI bank Limited wanted to have the change in name of the bank and they changed the name to AXIS bank Limited. AXIS means fulcrum. The vehicle has to run on wheels and the wheels in opposite directions are connected through an axis.
What is the difference between HDFC and HDFC Bank?
HDFC Ltd is the parent company of HDFC Bank and there are many like HDFC Bank under the umbrella. ( HDFC Life, HDFC Red, HDFC Securities etc.) So, generally financial institutions are those related to financial sector( say directly with money) and it includes NBFC ( Non banking finance Corp) and Bank.