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HDFC Bank was incorporated in 1994 as a subsidiary of [[Housing Development Finance Corporation|HDFC Ltd]], which received an 'in principle' approval from the RBI to set up a bank in the Private Sector as part of its [[Economic liberalisation in India|liberalisation]] of the Indian banking industry.[{{cite web |url=https://www.hdfcbank.com/personal/about-us/overview/who-we-are |title=About HDFC Bank |website=hdfcbank.com |publisher=HDFC Bank |access-date=6 December 2023}}][{{cite web |url=https://www.careratings.com/upload/CompanyFiles/PR/202305140546_HDFC_Bank_Ltd.pdf |title=HDFC Bank Ltd |date=2 May 2023 |website=careratings.com |publisher=CARE Ratings |access-date=6 December 2023 |quote=The Housing Development Finance Corporation Limited (HDFC) was among the first institutions to receive an 'in principle' approval from RBI to set up a bank in the private sector, as part of the RBI's liberalization of the Indian banking industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited' (HBL), with its registered office in Mumbai, India.}}] The bank commenced operations in January 1995, with its registered office in [[Mumbai]].[{{Cite web|url=http://profit.ndtv.com/stock/hdfc-bank-ltd_hdfcbank/reports|title=HDFC Bank: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of HDFC Bank|website=profit.ndtv.com|access-date=16 July 2016|archive-date=9 July 2016|archive-url=https://web.archive.org/web/20160709001214/http://profit.ndtv.com/stock/hdfc-bank-ltd_hdfcbank/reports|url-status=live}}] Its first corporate office and a full-service branch at Sandoz House, [[Worli]], was inaugurated by the then [[Ministry of Finance (India)|Union Finance Minister]], [[Manmohan Singh]].{{Citation needed|date=January 2022}} |
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HDFC Bank was incorporated in 1994 as a subsidiary of [[Housing Development Finance Corporation|HDFC Ltd]], which received an 'in principle' approval from the RBI to set up a bank in the Private Sector as part of its [[Economic liberalisation in India|liberalisation]] of the Indian banking industry.[{{cite web |url=https://www.hdfcbank.com/personal/about-us/overview/who-we-are |title=About HDFC Bank |website=hdfcbank.com |publisher=HDFC Bank |access-date=6 December 2023}}][{{cite web |url=https://www.careratings.com/upload/CompanyFiles/PR/202305140546_HDFC_Bank_Ltd.pdf |title=HDFC Bank Ltd |date=2 May 2023 |website=careratings.com |publisher=CARE Ratings |access-date=6 December 2023 |quote=The Housing Development Finance Corporation Limited (HDFC) was among the first institutions to receive an 'in principle' approval from RBI to set up a bank in the private sector, as part of the RBI's liberalization of the Indian banking industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited' (HBL), with its registered office in Mumbai, India.}}] The bank commenced operations in January 1995, with its registered office in [[Mumbai]].[{{Cite web|url=http://profit.ndtv.com/stock/hdfc-bank-ltd_hdfcbank/reports|title=HDFC Bank: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of HDFC Bank|website=profit.ndtv.com|access-date=16 July 2016|archive-date=9 July 2016|archive-url=https://web.archive.org/web/20160709001214/http://profit.ndtv.com/stock/hdfc-bank-ltd_hdfcbank/reports|url-status=live}}] Its first corporate office and a full-service branch at Sandoz House, [[Worli]], was inaugurated by the then [[Ministry of Finance (India)|Union Finance Minister]], [[Manmohan Singh]]. |
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In February 2000, [[Times Bank]] merged with HDFC Bank, which was India's first-ever voluntary merger of banks.[{{cite news |title=Hdfc, Timesbank Merger By Feb 25 |url=https://www.business-standard.com/article/specials/hdfc-timesbank-merger-by-feb-25-100021901051_1.html |access-date=12 May 2024 |work=Business Standard}}] Times Bank was established by India's largest media conglomerate, [[The Times Group]].[{{Cite news|last=Bandyopadhyay|first=Tamal|url=https://www.livemint.com/Industry/R9RVglpE4GP7OdDFN9wRPO/Bank-for-the-buck.html|title=A Bank for the Buck|date=19 November 2012|work=Livemint|access-date=27 March 2020|archive-date=3 April 2020|archive-url=https://web.archive.org/web/20200403234024/https://www.livemint.com/Industry/R9RVglpE4GP7OdDFN9wRPO/Bank-for-the-buck.html|url-status=live}}] |
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In February 2000, [[Times Bank]] merged with HDFC Bank, which was India's first-ever voluntary merger of banks.[{{cite news |title=Hdfc, Timesbank Merger By Feb 25 |url=https://www.business-standard.com/article/specials/hdfc-timesbank-merger-by-feb-25-100021901051_1.html |access-date=12 May 2024 |work=Business Standard}}] Times Bank was established by India's largest media conglomerate, [[The Times Group]].[{{Cite news|last=Bandyopadhyay|first=Tamal|url=https://www.livemint.com/Industry/R9RVglpE4GP7OdDFN9wRPO/Bank-for-the-buck.html|title=A Bank for the Buck|date=19 November 2012|work=Livemint|access-date=27 March 2020|archive-date=3 April 2020|archive-url=https://web.archive.org/web/20200403234024/https://www.livemint.com/Industry/R9RVglpE4GP7OdDFN9wRPO/Bank-for-the-buck.html|url-status=live}}] |
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