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On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking India's largest-ever M&A deal. [23] [24] As part of the merger, HDFC Ltd would transfer its home loan portfolio to HDFC Bank, while the bank offered depositors of HDFC Ltd the choice of either withdrawing their money or renewing their deposits with the bank at the interest rate that the bank was then offering.
HDFC held 26.14% of shares in HDFC Bank. HDFC Bank sources home loans for HDFC for a fee. [22] The key business areas of HDFC Bank were wholesale and retail banking and treasury operations. As of April 2023, its market capitalisation was ₹ 941,386 crore (US$110 billion), making it India's third largest publicly traded company. [23]
HDFC Bank is one of the LMD 100 companies in Sri Lanka. The bank ranked 78th in the 2020/21 edition. [2] Brand Finance calculated the brand value of HDFC Bank to be LKR763 million in 2022. [3] Due to the effects of the Sri Lankan economic crisis, Fitch Ratings placed the bank along with twelve other Sri Lankan banks on Rating Watch Negative.
RBL Bank, formerly known as Ratnakar Bank Limited, is an Indian private sector bank founded in 1943 and headquartered in Mumbai. [3] It offers services across five verticals: corporate banking, commercial banking, branch banking and retail liabilities, retail assets, and treasury and financial markets operations.
The National Financial Switch was launched by the IDRBT on 27 August 2004, connecting the ATMs of three banks, Corporation Bank, Bank of Baroda and ICICI Bank. [3] [4] [5] The IDRBT then worked towards bringing all major banks in India on board and by December 2009, the network had grown to connect 49,880 ATMs of 37 banks, thereby emerging as the largest network of shared ATMs in the country.
Hasmukh Thakordas Parekh (10 March 1911 – 18 November 1994) was an Indian financial entrepreneur, writer and philanthropist. He played a role in the development of Industrial Credit & Investment Corporation of India, now ICICI Bank, founded the Housing Development Finance Corporation, and in 1992 was awarded the Padma Bhushan for his contribution to the finance industry in India. [2]