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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. [25] [26] 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.
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Housing Development Finance Corporation. Housing Development Finance Corporation was an Indian private sector mortgage lender based in Mumbai. [ 9][ 10] It was the biggest housing finance company in India. [ 11] It also had a presence in banking, life and general insurance, asset management, venture capital and deposits through its associate ...
Parent. HDFC Bank (50.39%) [ 3] Website. www .hdfclife .com. HDFC Life Insurance Company Limited ( d/b/a HDFC Life) [ 4] is a long-term life insurance provider headquartered in Mumbai, offering individual and group insurance services. The company was incorporated on 14 August 2000. [ 5][ 6]
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The HDFC was established under the National Housing Act No. 37 of 1957 and it commenced operations in June 1984. [4] The Housing Development Finance Corporation of Sri Lanka Act No. 7 of 1997 passed in the parliament of Sri Lanka. Under the act, the HDFC was established as a state-owned enterprise. The act was amended in 2003, allowing the HDFC ...