In a bid to mark the completion of its 25 years in India, leading private sector lender HDFC Bank has opened its 5,000th branch.
In 1995, the bank commenced its operations in the country and opened its first branch in Mumbai at Sandoz House, Worli.
The 5,000th branch in MIDC, Andheri, Mumbai was inaugurated by Aditya Puri, Managing Director, HDFC Bank. At the launch, he was accompanied by school children from a nearby school and senior colleagues from the bank.
In 1994, the Housing Development Finance Corporation (HDFC) received an ‘in principle’ approval from the Reserve Bank of India (RBI) for setting up a private sector bank. Incorporated in August 1994 as ‘HDFC Bank Limited’, it received our banking license in January 1995.
Prior to beginning its operations, the bank aimed at offering not just convenience but an experience to customers. This included intriguing innovation ranging from products and services to leveraging technology to offer different ways of banking.
It also put its foot forward into serving the society through its Corporate Social Responsibility (CSR) programme titled Parivartan.
“It is a nostalgic and emotional moment for me and my 95,000 colleagues at the Bank.
We have seen India change in the last quarter century to emerge as the world’s fastest-growing economy. We have of course benefited from this growth. But what gives us greater satisfaction is that every branch opened acts as a catalyst for social change. We have already made a difference in the lives of 3.5 crore Indians through our social initiatives under the Parivartan umbrella. Going forward, we will continue to in our effort to not just take banking to every part of the country but also make a difference to the society,” said Puri.
“We also thank our stakeholders who have partnered with the bank in its journey and reaffirm our commitment to them. We promise to all of you that we will continue to adhere to the same high standards of fairness, transparency, prudence and corporate governance that you have known us for,” said Puri.