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This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India’s commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, six PBs, 43 RRBs, and two LABs.
On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking India's largest-ever M&A deal. [19] [20] 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 approx. 59% in GRUH, a housing finance company offering loans to individuals for purchase, construction and renovation of dwelling units. GRUH also offers loans to the self-employed segment where formal income proofs are not available. [15] It has a retail network of 136 offices across 7 states in India. [15]
HDFC ERGO General Insurance Company: Private Mumbai: 2002 13 ICICI Lombard: Private Mumbai: 2001 14 IFFCO TOKIO General Insurance: Private Gurugram: 2000 15 Kotak Mahindra General Insurance: Private Mumbai: 2015 16 Liberty General Insurance: Private Mumbai: 2013 17 Magma HDI General Insurance: Private Mumbai: 2009 18 Niva Bupa Health Insurance ...
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The company operates in 13 states and union territories through 133 branches and 321 touchpoints. [3] As of March 2024, 58.5% of its loan assets are from the states of Gujarat, Maharashtra and Tamil Nadu. [3] [24] [5] During fiscal year 2022–23, the company crossed the milestone of 100,000 customers served till date. [25]
In May 2021, Housing Development Finance Corporation (HDFC), entered into a share purchase agreement for the sale of 44,12,000 equity shares of Rs. 10 each, representing 0.62% of the issued and paid-up share capital of HDFC ERGO, in accordance with the direction of Reserve Bank of India to reduce its shareholding in the latter to 50% or below ...
CAMS was founded in early 1988 by V Shankar working in software development and computer education. During Y2K, CAMS pivoted to domestic financial services.. The Indian financial services industry experienced a renaissance in the period 1997/8-2006/7, with changes in regulation, products, and supporting infrastructure.