What it Does: HDFC offers many products and services to its customers, including commercial banking, retail banking, investment banking, wealth management, and insurance. The company also has its credit card, home loan, and auto loan schemes.
Mission: HDFC'S goal is to be a world-class financial institution, providing services to customers across the globe through its network of branches and offices. They do this by creating value through purpose-driven businesses and focusing on people, processes, and innovation. Their goal is also to attain profitability growth, considering the bank's risk appetite.
Size and Presence: HDFC has more than 1,300 branches across India and many other countries. The company employs more than 15000 employees worldwide.
Best Known For: HDFC is India's largest mortgage lender, insurance provider, and one of the country's largest non-bank financial services companies.
The Good Bits: The management of HDFC is very supportive, and they provide opportunities for career growth and development. They have the best medical policies for their employees.
The Not So Good Bits: One may come across poor management practices and a lack of opportunities for promotion or career progression. Sometimes the senior management positions are given only to those who had studied at 'elite' institutions like Harvard Business School or IIM (Indian Institute of Management).
HDFC Bank was established in 1994 as Housing Development Finance Corporation Limited (HDFC). The bank was founded by Deepak Parekh and Rakesh Jhunjhunwala as HDFC Ltd with a starting capital of INR 10 crores. In 1995, HDFC started its banking operations under the name HDFC Bank Ltd with its first branch being opened at Andheri (East) in Mumbai.
In 2001, HDFC Bank was launched as a retail bank with an initial capitalisation of Rs. 1,000 crores. The bank commenced operations in Mumbai on May 6, 2002.
HDFC Bank has grown at an average annual growth rate of over 65% and now has over 839 branches across India with a total business volume of more than INR 2 lakh crore.
The HDFC Company is very casual. The employees are relaxed and friendly. The work environment is casual, with a dress code of business casual.
HDFC's selection process consists of both online and offline tests. The company itself conducts the online test, whereas the offline test is conducted by a third-party agency functioning under their supervision.
The selection process includes multiple rounds of written tests and personal interviews. If they clear these two rounds, they will be called for the final round, which is a personal interview round where they have to give a presentation on their area of interest.
HDFC Bank offers several job opportunities to professionals at various levels, including junior management trainee positions, assistant manager positions, officer positions, senior manager positions, executive management positions, etc.
The average salary for an HDFC employee is INR 7,50,000 per annum. The minimum salary for an HDFC employee is INR 6,00,000 per annum, and the maximum salary for an HDFC employee is INR 8,00,000 per annum.
Recently, HDFC has started a new initiative named "HDFC Cares". In this initiative, HDFC makes a donation to specific causes for the welfare of society. Basically, HDFC provides financial aid to NGOs (Non-Governmental Organizations).
The main purpose of this initiative is to give support to the NGOs and charitable organizations who are working in the field of women and child empowerment, social awareness, education, health care, etc.