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Tag: HDFC Bank

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HDFC Bank and JLR India Sign MoU for Auto Financing

Sep 2, 2024 by Sujata 0 Comments #HDFC Bank, #JLR India, #Mumbai

Mumbai, September 02, 2024: HDFC Bank, India’s leading private sector bank, and JLR India have signed a Memorandum of Understanding (MoU) for auto financing. The Bank will now be JLR’s preferred vehicle financier. This will bring a host of benefits for consumers such as special financing schemes, exclusive offers/ events, and priority services / engagements.

By leveraging the combined strengths of both brands, the aim is to provide customers with seamless financing options and a modern luxury car buying experience. The MoU which encompasses offerings for the entire range of JLR models, was signed by Mr. Rajan Amba – Managing Director JLR India and Mr. Arvind Vohra – Group Head, Retail Assets HDFC Bank. Present on the occasion were other senior executives from HDFC Bank including Mr. Akhilesh Kumar Roy – Business Head, Auto Loans & Inventory Finance HDFC Bank.

The services will be available across all JLR exclusive showrooms and dealerships.

Speaking on the development, Mr. Arvind Vohra, Group Head – Retail Assets, HDFC Bank said, “We are excited about this partnership with an iconic and aspirational automotive brand like JLR. The Bank will leverage its robust execution capabilities to offer a seamless customer experience.”

Mr Rajan Amba, Managing Director, JLR India said, “Our dealer partners are integral to our business, and we are pleased to be able to develop solutions to help them in ease of doing business.”

“Together, we aim to further grow the market and offer our portfolio to an increasing set of clients. To that effect, we are excited to partner with HDFC Bank for this financing program, which will further strengthen the access of our dealer partners to increased working capital. By integrating HDFC Bank’s expertise and extensive reach, we aim to offer our clients a tailored range of financial choices that cater to their individual needs.”

Mr. Akhilesh Kumar Roy, Business Head, Auto Loans & Inventory Finance HDFC Bank, said, “The coming together of the two organisations will elevate the car buying experience. Customers will now enjoy a host of tangible and intangible benefits.”

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HDFC Bank to Upgrade Core Banking System for Enhanced Robustness and Scalability

Jul 2, 2024 by Sujata 0 Comments #Banking System, #Core Banking System, #HDFC Bank, #Mumbai

Mumbai, July 2, 2024: HDFC Bank, India’s leading private sector bank, is undertaking a system upgrade on July 13, 2024.

The Bank is migrating its Core Banking System (CBS) onto a new engineered platform with the aim of enhancing customer experience for its growing customer base of 9.3 crore individuals and businesses across the country. This migration will allow the Bank to improve performance speed, expand its capacity to handle high traffic volume, boost reliability and scalability.

With this upgrade, HDFC Bank will be one of the largest banks of its size and banking volume in the country to host its Core Banking System on a new-gen platform.

Scheduled Upgrade Details:

Start: 3.00 AM on Saturday, 13th July 2024
End: 4.30 PM on Saturday, 13th July 2024

During this 13 and a half -hour window, customers will be able to access the following services:

AVAILABLE SERVICES DETAILS
Cash Withdrawal: Debit and Credit Cards
  • Customers can continue to withdraw cash from any ATM using their HDFC Bank debit card (up to a restricted amount) or credit card– for details, refer to the FAQs link below. The account balance displayed will be as of 7:30 PM on Friday, 12th July 2024
Shop & Pay: Debit Cards, Credit Cards and UPI
  • At stores: Customers can continue to use their HDFC Bank debit card (up to a restricted amount) or credit card on swipe machines.
  • Online: Customers can make seamless online purchases with their HDFC Bank debit card (up to a restricted amount)  & credit card.
  • UPI: Customers can continue to use the service. However, it will be unavailable from 3:00 AM to 3:45 AM and from 9:30 AM to 12:45 PM on Saturday, 13th July 2024

 

*Please note that the restricted limit will be a combined limit for ATM Cash withdrawals, in-store transactions, Online transactions, and contactless transactions
Card Management Customers can continue to hotlist their card, reset their PIN and perform other card-related activities.
Merchant Payments Merchants can continue to receive payments via cards, but updates to the account for previous day’s payments will be available post-upgrade completion.

Refer to FAQ’s for more details
Net & Mobile Banking UPI: Customers can continue to use the service. However, it will be unavailable from 3:00 AM to 3:45 AM and from 9:30 AM to 12:45 PM on Saturday, 13th July 2024

Bill Payments: New billers can be added and existing billers can be viewed

Demat, Cards and Loans: Only view services

Mutual Funds: Redemptions, Switch, View & Enquiry services, WealthFy reports, Risk profile and manage systematic section

Refer to FAQ’s for more details

The Bank has scheduled this upgrade on a second Saturday, which is a bank holiday, to minimize inconvenience. It has advised customers to plan banking activities in advance.

HDFC Bank signs MoU with 100X. VC to support start-ups
business

HDFC Bank signs MoU with 100X. VC to support start-ups

Jun 14, 2022 by Praveen 0 Comments #100X. VC, #HDFC Bank, #MoU

HDFC Bank today announced signing a memorandum of understanding with 100X. VC, a leading early stage venture capital firm, to engage more deeply with the start-up community. The Bank will extend its full-suite of specialised services and facilities tailored for start-ups, known as Smart-Up,to all the firms associated with 100X.VC. It will also extend additional credit facilities and evaluate investment opportunities in these start-ups.

With this MoU, HDFC Bank and 100X.VC will work together in mutually beneficial areas. The venture capital firm will recommend HDFC Bank as primary Bank to all its investee companies. Through such collaboration, the bank hopes to enhance the ecosystem by supporting innovation and entrepreneurship.

HDFC Bank and 100X.VC will also conduct jointprograms for start-ups such as Master Classes. Additionally, the bank will evaluate start-ups referred to it by 100X.VC for investment and extending loans.

The MoU was signed by Mr. Abhishek Deshmukh, Branch Banking Head – Maharashtra, and Mr. Yagnesh Sanghrajka– Founder & CFO, 100X.VC in the presence of Mr. Sanjay Mehta, Founder & Partner, 100X.VC; Mr. Ninad Karpe- Partner, 100X.VC, and other senior bank officials.

Speaking on the occasion,Mr. Abhishek Deshmukh, Branch Banking Head – Maharashtra, HDFC Bank, said, “India is among the largest and fastest-growing start-up ecosystems in the world. In the first half of 2022 alone, 15start-ups have emerged as unicorns. In the past decade, we have seen the rebirth of the start-up ecosystem with a more sustainable business model in the form of venture capital.100X.VC has done transformational work in the early-stage ecosystem since their launch 3 years ago and we hope to leverage their expertise in mentoring start-ups identified by HDFC bank. Together, we hope to continue growing our objectives of contributing to the Indian start-up ecosystem.”

Commenting on the collaboration with HDFC Bank,Mr Yagnesh Sanghrajka, Founder and CFO at 100X.VC said, “We are excited to join hands with HDFC Bank in line with the Bank’s ‘SmartUp’ initiative. Under this program, we will jointly nurture emerging start-up ideas, cultivate them with 100X.VC first cheque seed capital and HDFC Bank’s banking services and access to credit seamlessly. 100X.VC and HDFC Bank are fully invested in the development of great ideas. The mentoring & resources provided under this program will ensure that tomorrow’s entrepreneurs are given the freedom to innovate and prosper.”

HDFC Bank signs MoU with 100X. VC to support start-ups
business

HDFC Bank launches full value remittance for USD, EUR, GBP

Jun 9, 2022 by Praveen 0 Comments #EUR, #GBP, #HDFC Bank, #remittance, #USD

 HDFC Bank today launched full value outward remittance service in US Dollar (USD) Euro (EUR) and the Pound Sterling (GBP) for trade and retail customers. The first-of-its-kind “Full Value” feature ensures that when a customer sends money abroad, the full amount remitted will reach the overseas beneficiary, without any deductions of foreign bank charges.

The Bank till date has supported Full Value remittance only for individual customers in USD denomination. In an industry-first, it has expanded this offering to include Trade related remittance transactions. Furthermore, it will be offered in USD, GBP and EUR and will be applicable to current and savings account holders for both trade and retail remittances sent worldwide.

“HDFC Bank has always been at the forefront of creating tailor-made, innovative products to delight its customers. We are therefore excited to bring out our full-value outward remittance service, not just for individuals but for traders as well. We saw an acute customer need in the remittances space were happy to address it. We are certain this product will be a game-changer for our customers,” said Mr Jatinder Gupta, Business Head, Retail Trade and Forex, HDFC Bank.

This service can be availed of by approaching the branch for Trade related remittance from India, individual related remittance under Liberalized Scheme and Non-resident remittances from India in (in USD, GBP and EUR) and RemitNow – NetBanking portal (in USD only) for foreign outward remittances under the Liberalized Remittance Scheme.

HDFC Bank issues India’s first Electronic Bank Guarantee
business

HDFC Bank Parivartan launches #EnginesOff campaign in 40 cities

Jun 4, 2022 by Praveen 0 Comments #EnginesOff campaign, #HDFC Bank, #Parivartan

To commemorate World Environment Day, HDFC Bank Parivartan today launched a high-decibel campaign called #EnginesOff to raise awareness on the importance of reducing air pollution. Through a short street play, motorists idling their vehicles at busy traffic intersections will be encouraged to switch off their engines while they wait for the signal to turn green.

 

The bank is rolling out this short play at over 126 busy signals in 40 cities across the country. The three-day campaign starts on June 5th and includes large metros such as Mumbai, Gurugram, Bangalore, Kolkata, and Pune, as well as smaller cities like Ludhiana, Varanasi, Nasik, Rajkot and Guwahati among others.

 

According to the World Health Organisation, research shows that over 7 million people die from air pollution each year. A small measure like switching off the engine can reduce an individual’s emissions by half.

 

The street play is part of HDFC Bank’s nationwide ESG campaign highlighting the small steps we can take towards sustainable progress. The campaign shows how the future can be better if we change things today. The bank also launched four unique films that highlight its social and environmental initiatives under its flagship programme Parivartan, as part of the same campaign.

 

“HDFC Bank has always been committed to leading responsibly. We believe that as India’s largest bank, we must use our brand to create a positive social impact and make a difference in the lives of communities,” said Mr. Ravi Santhanam, CMO, HDFC Bank. “With this campaign, we want to raise awareness on the simple steps we can take to prevent a catastrophic future. We need to come together and act now so we can create a better tomorrow,” he added.

 

HDFC Bank is the amongst the largest corporate CSR spenders in the country. The bank’s key focus areas include care for climate, rural development, education, skill development, healthcare & hygiene and financial literacy under Parivartan.

 

The 40 cities and locations are as follows:

#EnginesOff  
Name of City No of locations Locations
Chandigarh 4 Sector 8
Sector 44
Transport Lights
Housing Board Lights
Mohali 2 DC Office Light point
Suhana Lights,
Amritsar 2 Lawrence Road
Income Tax Chownk
Ludhiana 2 Pavilion Mall Lights
New Court Lights
Jaipur 4 RAMBAG CIRCLE
DANIK BHASKAR CIRCLE
NEW GATE
JDA CIRCLE
     
Gorakhpur 4 Padaleganj Chauraha
Shastri Chauraha
Mohadipur Chauraha
Asuran Chowk
Allahabad 3 Balson Choraha
Medical Choraha
Fortrate Choraha
Lucknow 4 Burlington  Square
Hazratganj Square
Alambagh Square
Indiragandhi Pratishthan Square
Kanpur 4 Tatmill Chauraha
CocaCola Chauraha
Vijay Nagar
Ramadevi
Varanasi 4 Rathyatra
Maldahiya
Lanka
District Court Charaha
Faizabad 2 Rakabganj Chauraha
Pushpraj Chauraha
Meerut 3 Saket Chauraha
Begum Pul
Tej Garhi Chauraha
Sonipath 3 Rohtak Chowk
Loharu Road
Old Bus Stand
Bareilly 3 Chaupal Chauraha, Police Line
Chowki Chauraha
Circuit Chauraha
Faridabad 3 Ajrondha Chowk
Old Faridabad Chowk
B K Dutt Chowk
Delhi 3  
 
 
Ghaziabad 3 Hapur Chungi
Hapur Tiraha
Dabur Tiraha
Dehradun 3 Balram Chowk
Prince Chowk
Panchayati Mandir Chauraha
Noida 3 Sector 18
Sector 16
Sector 15
Gurgaon 3 Sector 42
MDI Chowk
Bristol Chowk
Jammu 3 Bikram Chowk
Jewel chowk
Gandhi Nagar
Srinagar 3 Jehangir Chowk
M A Road
Regal Chowk
     
Pune 3 Phineox Mall Signal, Viman Nagar
University Road Signal
Katraj Signal
Aurangabad 4 Kranti Chowk Signal
Akashwani Signal
CIDCO Signal
Dudh Dairy Chowk
Nashik 4 CBS School
ABB Singnal – Trambak Rd
BYK Signal – College Rd
Dwarka Signal
Indore 4 Palacia
C-21
Radission Square
Regal Square
Ahmedabad 3 Sindhubhavan Circle
Ashram Road
RTO Circle
Surat 3 Swar Gate
Athava Gate
Gajera School Circle
Rajkot 3 Race Course Road
100 ft Road
Crystal Mall
Vadodara 3 Kala Ghoda
Alkapuri – RC Dutt Road
Rajmahal Road – Akota Bridge
Mumbai 1 Haji Ali
     
Hyderabad 4 Jubilee Hills
Hi-tech city
Khairatabad
Gatchibowli
Vijayawada 4 Benz circle
Ramvarampadu
Bhavani puran
Ibrahimpatnam
Vizag 4 RTC Complex
Maddilapalem
Gajuwaka
Siripuram
Nagpur 4 Eternity mall square
RBI square
Shankar nagar
Chatrapati square
     
Bhubaneswar 3 Kalinga Hospital Square
Commissionerate & DCP Traffic Police Office Square
AG square
Patna 4 Dakbangla
Exhibition Road
Shaguna More
Boring Road Crossing
Kolkata 3 Shyambazar Crossing
Esplanade Crossing
Rash Behari Crossing
Guwahati 3 ABC Point
Rukminigaon Point
Lalganesh
     

…