HDFC Full Form - Housing Development Finance Corporation
by Devender
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What is the full form of HDFC?
The full form of HDFC is Housing Development Finance Corporation.
It is considered a prominent housing finance corporation that provides housing loans to middle and low-class citizens to let them buy houses and builders for building projects. They improve residential stock by increasing homeownership and by housing finance provision in an effective way.
Its headquarter is located in Mumbai, Maharashtra. As of 2022, the CEO and MD of HDFC is Sashidhar Jagdishan. It have a wide range of distributed network of 427 office that are interrelated to one another and for home loan products, they have their representative offices in Dubai, Singapore, and London.
HDFC is the first company among all that receive a principal approval of setting up private sectors bank from RBI and also it is the first bank in India which issues the master card and launched an international Debit card linked with VISA.
HDFC has an extreme list of subsidiaries for supplying loan products, banking, and insurance services.
HDFC Core values and ideals
The core value and ideals of HDFC are dependent on these 4 pillars which are:
1 Trust
2 Integrity
3 Transparency
4 Professional Service
HDFC Subsidiaries
HDFC has a long and diverse list of subsidiaries which help them to provide a wide range of services such as banking, insurance, loan, etc. Some of the popular subsidiaries are:
- HDFC Bank Ltd
- HDFC Holdings Ltd
- HDFC Developers Ltd
- HDFC Trustee Company Ltd
- HDFC Investments Ltd
- HDFC Venture Capital Ltd
- HDFC Standard Life Insurance Company Ltd
- HDFC Realty Ltd
- HDFC Property Ventures Ltd
- HDFC Ergo General Insurance Company Ltd
- 1980 - HDFC introduced the loan linked deposit scheme
- 1981 - Non-Resident Certificate Deposit scheme was launched by HDFC
- 1989 - HDFC offered two types of loans: Home Improvement Loans (HIL) and Home Extension Loans (HEL)
- 1994 - HDFC bank was established
- 2010-11 - HDFC Real Estate Destination was launched
- 2011-12 - HDFC Education and Development Services Pvt. Ltd. was launched to provide education loans
HDFC History
HDFC was established as a Public Limited Company in 1977. Here is a brief history of HDFC:
By April 2021, HDFC Bank became India's largest private sector bank by assets and the world's 10th largest bank by market capitalization.
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