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As of March 2021, with total assets of more than 15 trillion Indian rupees, HDFC Bank is the largest private sector bank in India. If we consider both the public sector banks and private sector banks, then, State Bank of India (SBI) is the largest bank in India having assets worth more than 40 trillion Indian rupees. HDFC Bank occupies the 2nd position. You can read about the Pradhan Mantri Jan-Dhan Yojana (PMJDY) – National Mission for Financial Inclusion in the given link.
HDFC Bank was established in 1994 and it is headquartered in Mumbai, Maharashtra. In February 2000, HDFC Bank merged with the Times Bank. HDFC Bank acquired Centurion Bank of Punjab (CBoP) in 2008.
Further readings:
- RBI – Reserve Bank of India [UPSC Indian Economy Notes]
- Bad Banks – Idea Proposed by Indian Banking Association (IBA) Due to COVID-19
