Is HDFC a bank or NBFC?

HDFC is an Indian financial services company. HDFC is the parent company of HDFC Bank. The NBFC arm of HDFC is HDB Financial Services. By assets and market capitalization, HDFC bank is the largest private sector bank in India. You can read about the Types of Non Banking Financial Institutions – Functions & Objectives in the given link.

Times Bank merged with HDFC Bank in 2000, and HDFC Bank had acquired Centurion Bank of Punjab (CBoP) in 2008. HDFC bank is located in close to 3000 cities/towns. It was established in 1994 and is headquartered in Mumbai. 

Further readings:

  1. NBFCs & IBC: RSTV – Big Picture Discussion on the RBI’s move to resolve NBFCs under insolvency law
  2. Insolvency And Bankruptcy Code (IBC) – IBC Amendment Bill 2021 [UPSC Notes GS III]

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