Housing Development Finance Corporation Ltd or HDFC is an Indian financial conglomerate based in Mumbai, India. It is a major player for housing finance in India. It also has a presence in banking, life and general insurance, asset management, venture capital and education loans.
It was founded in 1977 as the first specialised mortgage company in India. HDFC was promoted by the Industrial Credit and Investment Corporation of India. Mr Hasmukhbhai Parekh played a key role in the foundation of this company.
In 2000, HDFC Asset Management company launched its mutual fund schemes. In the same year, IRDA granted registration to HDFC Standard Life Insurance, as the first private sector life insurance company in India.
HDFC: With you, right through
|2013||The HDFC Board recognized as one of the ‘Five Best Boards’ by the Economic Times and the Hay Group.|
|2001||HDFC features in AsiaMoney’s Top 20 Champions of Asian Business, a poll of the best companies in the Asia Pacific region.|
|1993||HDFC receives in-principal approval to set-up a bank.|
|1982||HDFC initiates a program of Corporate Finance ‘Line of Credit’ to promote employee owned housing.|
|1977||HDFC incorporated on October 17.|