Which is the Largest Private Bank in India?
By BYJU'S Exam Prep
Updated on: November 9th, 2023
HDFC is the largest private bank in India in terms of market capitalisation with total assets of more than 16 trillion rupees. As of January 1, 2022, there are 21 private banks in India. The full name of HDFC is Housing Development Finance Corporation Limited, and it was one of the first financial institutions to receive permission from the Reserve Bank of India to establish a bank.
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Largest Private Bank in India
As a part of the RBI policy on liberalization of the banking industry in 1994, HDFC was started in August 1994. It is the largest private sector bank in India as of today. Some facts about the HDFC bank are as follows:
- Full form – Housing Development Finance Corporation
- Incorporated in August 1994 and started its operations as a commercial bank in January 1995.
- At present, there are approximately 6,342 branches and 18,130 ATMs of HDFC in 3188 towns and cities.
- HDFC Headquarters is located in Mumbai, India.
By total sales during the year, HDFC Bank is the largest private bank in India. As part of the Reserve Bank of India’s (RBI) liberalisation of the Indian Banking Industry in 1994, it was among the first to receive in-principle approval to establish a bank in the private sector. HDFC Bank is the most important constituent of the Bank Nifty.
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