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What is the full form of HDFC?
By Anushree Goswami Last updated : April 20, 2024
HDFC is an abbreviation of Housing Development Finance Corporation. It is a well-known housing expansion finance corporation of India which largely makes available housing loans to low and middle-class people to buy houses and builders for the residential projects. Its main purpose is to advance the progress of the residential housing stock through the action of providing Housing Finance in an organized manner and to develop and improve homeownership in the country.
Its head office is situated in Mumbai, India. As of July 2017, Aditya Puri is the MD & CEO of HDFC bank. It has a wide-ranging distribution network which includes 427 interconnected offices.
HDFC Core Values
- Trust
- Integrity
- Transparency
- Professional Service
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Popular Subsidiaries of HDFC
Following given below are some of the popular subsidiaries of HDFC,
- HDFC Bank Ltd
- HDFC Developers Ltd
- HDFC Investments Ltd
- HDFC Holdings Ltd
- HDFC Trustee Company Ltd
- HDFC Realty Ltd
- HDFC Property Ventures Ltd
- HDFC Venture Capital Ltd
- HDFC Ergo General Insurance Company Ltd
- HDFC Standard Life Insurance Company Ltd
HDFC Brief History
- On October 17, 1977, HDFC was founded as a Public Limited corporation. It was supported and encouraged by the Industrial Credit and Investment Corporation of India.
- In 1994, HDFC supported the HDFC Bank to provide banking services. It was a private sector bank which was established with the approval of RBI.
- As of June 30, 2019, the distribution network of HDFC bank was at 5500 branches across 2,764 cities.
- In FY 2017, the HDFC bank also installed 4.30 Lakhs POS terminals and issued 235.7 Lakhs debit cards and 1.2 crores credit cards.