102-596: HDFC Bank Limited is an Indian banking and financial services company , headquartered in Mumbai . It is India's largest private sector bank by assets and the world's tenth-largest bank by market capitalization as of May 2024. The Reserve Bank of India (RBI) has identified the HDFC Bank, State Bank of India , and ICICI Bank as Domestic Systemically Important Banks (D-SIBs), which are often referred to as banks that are “ too big to fail ”. As of April 2024, HDFC Bank has
204-585: A naval battle fought during the reign of Narasimhavarman II (680-720 CE), which resulted in the capture of the territory by the Pallavas of Kanchi in the late 7th century CE. Epigraphs indicate the capture of the region of Kavadi Dvepa (presumably Kavaratti) by the Kadambas in the 10th century CE. In the 11th century CE, the islands came under the rule of the Cholas . Chola inscriptions from Thanjavur , indicate that
306-548: A solar power plant was commissioned to augment the power generation capacity. The world's first ever experimental low-temperature thermal desalination plant opened in Kavaratti in 2005, with a projected daily production capacity of 100,000 litres of potable water from seawater. The plant utilises the temperature difference between warm surface seawater and much colder seawater at about 500 m (1,600 ft) depth to generate potable water as well as energy. The technology
408-635: A tropical monsoon climate , bordering on a tropical savanna climate . The weather is warm throughout the year with temperatures ranging from 20 to 32 degree Celsius . While tropical cyclones arising in the Arabian Sea rarely strike the islands due to its smaller size, winds and waves associated with them could alter the features of the islands considerably. Lakshadweep is part of the Maldives-Lakshadweep-Chagos Archipelago tropical moist forests ecoregion . There are no forests on
510-520: A 9.99% stake in Ferbine, an entity promoted by Tata Group , to operate a pan-India umbrella entity for retail payment systems, similar to the National Payments Corporation of India . On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking India's largest-ever M&A deal . As part of the merger, HDFC Ltd would transfer its home loan portfolio to HDFC Bank, while
612-412: A bank account is considered indispensable by most businesses and individuals. Non-banks that provide payment services such as remittance companies are normally not considered as an adequate substitute for a bank account. Banks issue new money when they make loans. In contemporary banking systems, regulators set a minimum level of reserve funds that banks must hold against the deposit liabilities created by
714-609: A bank in the Private Sector as part of its liberalization of the Indian banking industry. The bank commenced operations in January 1995, with its registered office in Mumbai . Its first corporate office and a full-service branch at Sandoz House, Worli , was inaugurated by the then Union Finance Minister , Manmohan Singh . In February 2000, Times Bank merged with HDFC Bank, which was India's first-ever voluntary merger of banks. Times Bank
816-445: A fee for that service. In exchange for each deposit of precious metal, the goldsmiths issued receipts certifying the quantity and purity of the metal they held as a bailee ; these receipts could not be assigned, only the original depositor could collect the stored goods. Gradually the goldsmiths began to lend money out on behalf of the depositor , and promissory notes , which evolved into banknotes, were issued for money deposited as
918-425: A large number of small to medium-sized institutions in its banking system. As of November 2009, China's top four banks have in excess of 67,000 branches ( ICBC :18000+, BOC :12000+, CCB :13000+, ABC :24000+) with an additional 140 smaller banks with an undetermined number of branches. Japan had 129 banks and 12,000 branches. In 2004, Germany, France, and Italy each had more than 30,000 branches – more than double
1020-417: A loan to the goldsmith. Thus, by the 19th century, we find in ordinary cases of deposits, of money with banking corporations, or bankers, the transaction amounts to a mere loan, or mutuum , and the bank is to restore, not the same money, but an equivalent sum, whenever it is demanded and money, when paid into a bank, ceases altogether to be the money of the principal (see Parker v. Marchant, 1 Phillips 360); it
1122-501: A market capitalization of $ 145 billion making it the third-largest company on the Indian stock exchanges. It is also the sixteenth largest employer in India with over 173,000 employees, following its takeover of parent company Housing Development Finance Corporation . HDFC Bank was incorporated in 1994 as a subsidiary of HDFC Ltd , which received an 'in principle' approval from the RBI to set up
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#17328550507981224-447: A monetary penalty on HDFC Bank for failure to undertake ongoing due diligence in case of 39 current accounts opened for bidding in the initial public offer . A HDFC Bank manager was arrested on charges of fraud, involving a sum of ₹59,41,000 in Odisha . Altico Capital and Dubai 's Mashreq Bank have approached RBI, accusing HDFC Bank of violating regulatory provisions by debiting part of
1326-413: A plan in early 2024 to extend the runway to enable it to handle larger narrow body aircraft and expand the infrastructure to convert the airport into dual-use for civilian and military purposes. The construction of a greenfield airport at Minicoy Island was also proposed. Two helicopters are presently operated by Pawan Hans and are utilised for passenger transport and emergency medical evacuation from
1428-528: A portion of their current liabilities. In addition to other regulations intended to ensure liquidity , banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords . Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in
1530-416: A safe and convenient form of money backed by the goldsmith's promise to pay, allowing goldsmiths to advance loans with little risk of default . Thus the goldsmiths of London became the forerunners of banking by creating new money based on credit. The Bank of England originated the permanent issue of banknotes in 1695. The Royal Bank of Scotland established the first overdraft facility in 1728. By
1632-607: A source of coir for their industries. The native islanders revolted against the Portuguese and expelled them in 1545 CE. In the mid 16th century CE, all inhabited islands were conferred as jagir (land grant) to the ruling family of Kannur by the Chirakkal family of Kolathiri to grant protection from the Portuguese . The Aminidivi islands came under the rule of Tipu Sultan of Mysore Kingdom in 1787 CE and were later annexed to
1734-682: A total land area of approximately 32.62 km (12.59 sq mi) and only ten of the islands are inhabited. The islands are located between the Arabian Sea to the west and the Laccadive Sea to the east, about 220–440 km (140–270 mi) off the Malabar Coast of mainland India. The territory is divided into three island subgroups: the Amindivi islands in the north, the Laccadive islands in
1836-487: A total of 88 members across islands. These panchayats are combined to form a district panchayat, which has 26 elected members including the chairpersons of the ten village panchayats and the Member of Parliament for Lakshadweep Lok Sabha Constituency . The territory is also divided into five community development blocks: Kavaratti, Amini, Andrott, Minicoy and Kiltan, each administered by Collector-cum-Development Commissioner, who
1938-399: A variety of different ways including interest, transaction fees and financial advice. Traditionally, the most significant method is via charging interest on the capital it lends out to customers. The bank profits from the difference between the level of interest it pays for deposits and other sources of funds, and the level of interest it charges in its lending activities. This difference
2040-430: A vast lagoon area and an exclusive economic zone of 400,000 km (150,000 sq mi), fishing is a major industry. The estimated annual production is 21,016 tonnes of which 60% is tuna and related fishes. About 60% of the total production is converted to dried products and 40% is allocated for local consumption. Commercial fishing is concentrated around 11 islands with skipjack tuna and yellowfin tuna being
2142-557: Is Berenberg Bank (founded in 1590). Banking as an archaic activity (or quasi-banking ) is thought to have begun as early as the end of the 4th millennium BCE, to the 3rd millennia BCE. The present era of banking can be traced to medieval and early Renaissance Italy, to the rich cities in the centre and north like Florence , Lucca , Siena , Venice and Genoa . The Bardi and Peruzzi families dominated banking in 14th-century Florence, establishing branches in many other parts of Europe. Giovanni di Bicci de' Medici set up one of
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#17328550507982244-446: Is a bank regulation , which sets a framework within which a bank or depository institution must manage its balance sheet . The categorisation of assets and capital is highly standardised so that it can be risk weighted . After the financial crisis of 2007–2008 , regulators force banks to issue Contingent convertible bonds (CoCos). These are hybrid capital securities that absorb losses in accordance with their contractual terms when
2346-400: Is a Bills of Exchange Act that codifies the law in relation to negotiable instruments , including cheques, and this Act contains a statutory definition of the term banker : banker includes a body of persons, whether incorporated or not, who carry on the business of banking' (Section 2, Interpretation). Although this definition seems circular, it is actually functional, because it ensures that
2448-403: Is a list of the largest deals in history in terms of value with participation from at least one bank: Currently, commercial banks are regulated in most jurisdictions by government entities and require a special bank license to operate. Usually, the definition of the business of banking for the purposes of regulation is extended to include acceptance of deposits, even if they are not repayable to
2550-648: Is administered as a single district with Kavaratti as its capital. Archaeological evidence from Kalpeni indicates human settlement in the region from at least 1500 BCE with early reference to the islands in the Buddhist Jataka tales from the 3rd century BCE and the Tamil Sangam literature Patiṟṟuppattu . The region was controlled by the Cheras in the Sangam period (3rd century BCE to 3rd century CE) and later by
2652-620: Is derived from Lakṣadvīpa meaning "one hundred thousand islands," presumably from Sanskrit or Malayalam . Laccadive seems to be the result of the Anglicization of the given name during the British Raj . Amindivi derives its name from the Amindivi people, who were the earliest inhabitants of the Amini Island . The native name of the Minicoy Island is Maliku , and the given name is
2754-597: Is in charge of revenue and land settlement in their respective block. The commissioner also serves as a District magistrate and is assisted by an additional district magistrate and ten executive magistrates for enforcement of law and order. The administrator acts as the Inspector General of Police and has command and control of the Lakshadweep Police, which has a sanctioned strength of 349 personnel across nine police stations . The territory elects one member to
2856-498: Is now supported by the HDFC Bank Digital Rupee Wallet, allowing users to guarantee that payments are paid for specified purpose. Individual users can optionally design other characteristics using this capability, such as the validity period or the geographic regions in which Digital rupee can be utilized. Notable subsidiaries and associate companies of HDFC Bank include: The equity shares of HDFC Bank are listed on
2958-554: Is one of the four coral reef regions in India. Cetacean diversity off the Lakshadweep Islands and in adjacent areas include various whales (e.g., pygmy blue , Bryde's , sperm , orca , pilot whale ), and dolphins . The commonly seen are introduced cattle and poultry . Other notable marine fauna include sharks , bonitos , tunas , snappers , flying fish , Manta rays , octopuses , crabs , and turtles . There are 101 species of birds, common amongst them include
3060-562: Is populated by the Mahls , an ethnic group also resident in the Maldives . English is the official language of the union territory. Jeseri (also known as Dweep Basha ), a dialect of Malayalam , is widely spoken language in the Amindivi and Laccadive islands. Mahl , a dialect of Dhivehi , is spoken in Minicoy. There are minor variations of the same dialect across islands. Malayalam, written in
3162-431: Is referred to as the spread between the cost of funds and the loan interest rate. Historically, profitability from lending activities has been cyclical and dependent on the needs and strengths of loan customers and the stage of the economic cycle . Fees and financial advice constitute a more stable revenue stream and banks have therefore placed more emphasis on these revenue lines to smooth their financial performance. In
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3264-559: Is the northernmost island group of the exposed undersea mountain range, the Chagos-Lakshadweep Ridge . While there are no conclusive theories about the formation of the atolls, Charles Darwin proposed in 1842 CE that the subsidence of a volcanic island resulted in the formation of a fringing reef, which grew upwards with continual subsidence. The individual islands are small, with none of them measuring more than 1 mi (1.6 km) across. Most inhabited islands are situated on
3366-622: Is the sole private bank operating in the union territory of Lakshadweep after opening a branch in Kavaratti island. HDFC Bank provides a number of products and services including wholesale banking , retail banking , treasury, auto loans, two-wheeler loans, personal loans , loans against property, consumer durable loan, lifestyle loan and credit cards . Along with this various digital products are PayZapp and SmartBUY. Company also launched smart wealth app in 2024. On August 29, 2024, HDFC Bank introduced User-Level Programmability on Digital rupee. It
3468-477: Is then the money of the banker, who is bound to return an equivalent, by paying a similar sum to that deposited with him, when he is asked for it. The goldsmith paid interest on deposits. Since the promissory notes were payable on demand, and the advances (loans) to the goldsmith's customers were repayable over a longer time-period, this was an early form of fractional reserve banking . The promissory notes developed into an assignable instrument which could circulate as
3570-470: The 11th parallel north ), and the atoll of Minicoy to the south of the Nine Degree Channel . The islands are located between the Arabian Sea to the west and the Laccadive Sea to the east, about 220–440 km (140–270 mi) off the Malabar Coast of mainland India. The islands occupy a total land area of approximately 32.62 km (12.59 sq mi) with a population of 64,473 as per
3672-456: The 2011 census across the ten inhabited islands. There is a 132 km (82 mi) long coastline with a lagoon area of 4,200 km (1,600 sq mi), territorial waters of 20,000 km (7,700 sq mi) and an exclusive economic zone of 400,000 km (150,000 sq mi). Lakshadweep is the northernmost island group of the exposed undersea mountain range, the Chagos-Lakshadweep Ridge . The entire union territory
3774-485: The 2011 census , Lakshadweep has a population of 64,473, consisting of 33,123 (51.3%) males and 31,350 (48.7%) females, and had a sex ratio of 946 females per 1,000 males in 2011. It also recorded the highest sex ratio at birth amongst Indian territories as per the National Family Health Survey (NFHS) in 2021. As per the 2011 census, there were a total of 11,574 households and about 50,332 (78%) of
3876-664: The Bombay Stock Exchange and the National Stock Exchange of India . Its American depositary receipts are listed on the NYSE . Its global depository receipts (GDRs) were listed on the Luxembourg Stock Exchange but were terminated by the board of directors, following its low trading volume. . In 2024, HDFC Bank temporarily suspended its partnership with Apple, which had been in place since 2019. Parag Rao,
3978-641: The British Raj in 1799 CE after the Fourth Anglo-Mysore War . The rest of the islands remained under the suzerainty of the Arakkal family in return for a payment of annual tribute to the British. The British took over the administration of these islands in 1908 CE, citing the nonpayment of taxes, and attached it to the Madras Presidency . After Indian Independence from colonial British rule in 1947,
4080-705: The Federal Deposit Insurance Corporation (FDIC) as a regulator. However, for soundness examinations (i.e., whether a bank is operating in a sound manner), the Federal Reserve is the primary federal regulator for Fed-member state banks; the Office of the Comptroller of the Currency (OCC) is the primary federal regulator for national banks. State non-member banks are examined by the state agencies as well as
4182-631: The Great Depression , the U.S. Savings and Loan crisis in the 1980s and early 1990s, the Japanese banking crisis during the 1990s, and the sub-prime mortgage crisis in the 2000s. The 2023 global banking crisis is the latest of these crises: In March 2023, liquidity shortages and bank insolvencies led to three bank failures in the United States , and within two weeks, several of the world's largest banks failed or were shut down by regulators Assets of
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4284-776: The Kolathiri Rajas of Kannur . The region was under the influence of the Mysore kingdom in the late 18th century and was later annexed to the British empire in 1799 CE. The islands became part of the Dominion of India following the Indian Independence in 1947 and was incorporated as a union territory in 1956. The name Lakshadweep means "one lakh islands" ( Lakṣadvīpa ; one hundred thousand islands) in Malayalam and Sanskrit , though
4386-618: The Malayalam script , was introduced as the primary language of Lakshadweep during the British Raj. This policy has been continued since independence, with Malayalam serving as a link language on all islands, including Minicoy. Previously, a type of Arabic script , known as the Ponnani or Arabi Malayalam script , was used as the writing system. The economy is dependent on agriculture , fishery , and tourism . As of 2013 , there were 72 registered micro and small industries majorly involved in
4488-520: The Pallavas . Islam is presumed to have been brought in the 7th century by the arrival of Muslims . In the 11th century CE, the region was under influence of the Chola kingdom and formed a part of the trade route that connected the Middle East with South Asia . It came under the influence of the Portuguese briefly in the late 15th century CE before being ruled by the Arakkal kingdom , who were vassals of
4590-563: The Renaissance by Florentine bankers, who used to make their transactions atop desks covered by green tablecloths. The definition of a bank varies from country to country. See the relevant country pages for more information. Under English common law , a banker is defined as a person who carries on the business of banking by conducting current accounts for their customers, paying cheques drawn on them and also collecting cheques for their customers. In most common law jurisdictions there
4692-704: The ancient world . In the history of banking , a number of banking dynasties – notably, the Medicis , the Pazzi , the Fuggers , the Welsers , the Berenbergs , and the Rothschilds – have played a central role over many centuries. The oldest existing retail bank is Banca Monte dei Paschi di Siena (founded in 1472), while the oldest existing merchant bank
4794-469: The brown noddy and sooty tern and water birds such as herons , teals , and gulls . Pitti island is a declared bird sanctuary and an important breeding place for sea turtles and a number of pelagic birds including the brown noddy, lesser crested tern , and greater crested tern . Lakshadweep is a Union Territory and is governed by an administrator on behalf of the Government of India. It
4896-677: The coast of Damirica as a source of a turtle shell . In 2nd century CE, Greek historian Ptolemy mentions 1378 islands located opposite to Taprobane (Sri Lanka) with the names of some of the islands given as Kanathara ( Kavaratti ), Argidion ( Agatti ), Ammine ( Amini ), and Monache ( Minicoy ). The islands later became part of a trade route with the Roman empire , with archeological evidence from as early as 2nd century CE obtained from Kadamath and Androth islands. Other travelers and historians such as Ammianus Marcellinus (4th century CE), Faxian (5th century CE), and Cosmas (6th century CE) mention
4998-637: The lower house of the Indian parliament , the Lok Sabha . Lakshadweep is a reserved constituency for Scheduled Tribes . The union territory falls under the judicial jurisdiction of the Kerala High Court at Kochi , and has a system of lower courts under its authority. There is a district and sessions court in Kavaratti (established in 1997) and two munsiff courts in Andrott and Amini islands. According to
5100-639: The world's top 100 banking companies by total assets. The combined entity had a customer base of 120 million, surpassing the population of Germany in size. The merger resulted in a substantial increase in bank headcount, with the workforce totaling 177,000 employees. The merged entity became the second-largest bank in India, trailing only the State Bank of India in terms of assets. The number of branches increased to 8,300. Shares of HDFC Ltd were delisted and shareholders were allotted 42 shares of HDFC Bank for every 25 shares of HDFC Ltd held, leading to an increase in
5202-474: The 15,000 branches in the United Kingdom. Between 1985 and 2018 banks engaged in around 28,798 mergers or acquisitions, either as the acquirer or the target company. The overall known value of these deals cumulates to around 5,169 bil. USD. In terms of value, there have been two major waves (1999 and 2007) which both peaked at around 460 bil. USD followed by a steep decline (−82% from 2007 until 2018). Here
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#17328550507985304-636: The Anglicized version derived from the Nicobarese word Minikaa-raajje (meaning "land of the cannibals") as the island was known then in the Andaman and Nicobar . The early human migration from Africa to the Andaman Islands through India was thought by scientists to include Lakshadweep because of its location between Africa and the southwestern region of India. However, later genetic studies indicated that
5406-465: The East (separated from Amindivi by the 11th parallel north ), and the atoll of Minicoy to the south of the Nine Degree Channel . The islands have a 132 km (82 mi) long coastline with a lagoon area of 4,200 km (1,600 sq mi), territorial waters of 20,000 km (7,700 sq mi), and an exclusive economic zone of 400,000 km (150,000 sq mi). Lakshadweep
5508-522: The FDIC. National banks have one primary regulator – the OCC. Each regulatory agency has its own set of rules and regulations to which banks and thrifts must adhere. The Federal Financial Institutions Examination Council (FFIEC) was established in 1979 as a formal inter-agency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions. Although
5610-598: The FFIEC has resulted in a greater degree of regulatory consistency between the agencies, the rules and regulations are constantly changing. Lakshadweep Lakshadweep ( Malayalam: [lɐkʂɐd̪βʷiːbɨ̆] ) is a union territory of India. It is an archipelago of 36 islands divided into three island subgroups: the Amindivi Islands in the north, the Laccadive Islands (separated from Amindivi roughly by
5712-550: The Group Head of Payments at HDFC Bank, stated that the bank regularly reviews its partnerships and that the decision to pause the collaboration was based on the cost-to-income ratio, which no longer aligned with the bank's strategic objectives. Rao referred to the move as a "temporary break." The partnership had made HDFC Bank the exclusive banking partner for Apple's promotional offers in India, providing HDFC customers with special benefits when purchasing Apple products. However, after
5814-607: The Lakshadweep islands on 1 November 1973. The headquarters of the union territory remained at Kozhikode until 1964, when the seat of the Administrator was shifted to Kavaratti. The territory has developed into a key Indian naval establishment due to its strategic location near vital shipping lanes from India to the Middle East . Lakshadweep is an archipelago of 36 islands and islets that includes 12 atolls , three reefs , and five submerged banks . The islands occupy
5916-567: The UK, for example, the Financial Services Authority licenses banks, and some commercial banks (such as the Bank of Scotland ) issue their own banknotes in addition to those issued by the Bank of England , the UK government's central bank. Banking law is based on a contractual analysis of the relationship between the bank (defined above) and the customer – defined as any entity for which
6018-639: The bank agrees to conduct an account. The law implies rights and obligations into this relationship as follows: These implied contractual terms may be modified by express agreement between the customer and the bank. The statutes and regulations in force within a particular jurisdiction may also modify the above terms or create new rights, obligations, or limitations relevant to the bank-customer relationship. Some types of financial institutions, such as building societies and credit unions , may be partly or wholly exempt from bank license requirements, and therefore regulated under separate rules. The requirements for
6120-406: The bank offered depositors of HDFC Ltd the choice of either withdrawing their money or renewing their deposits with the bank at the interest rate that the bank was then offering. On 1 July 2023, the merger of HDFC Ltd with HDFC Bank was completed. Consequently, HDFC Bank had a market capitalisation of $ 154 billion, becoming the seventh most valuable bank in the world. HDFC Bank also became one of
6222-411: The bank will not repay it), and interest rate risk (the possibility that the bank will become unprofitable, if rising interest rates force it to pay relatively more on its deposits than it receives on its loans). Banking crises have developed many times throughout history when one or more risks have emerged for the banking sector as a whole. Prominent examples include the bank run that occurred during
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#17328550507986324-667: The bank, and collecting cheques deposited to customers' current accounts. Banks also enable customer payments via other payment methods such as Automated Clearing House (ACH), Wire transfers or telegraphic transfer , EFTPOS , and automated teller machines (ATMs). Banks borrow money by accepting funds deposited on current accounts, by accepting term deposits , and by issuing debt securities such as banknotes and bonds . Banks lend money by making advances to customers on current accounts, by making installment loans , and by investing in marketable debt securities and other forms of money lending. Banks provide different payment services, and
6426-559: The beginning of the 19th century Lubbock's Bank had established a bankers' clearing house in London to allow multiple banks to clear transactions. The Rothschilds pioneered international finance on a large scale, financing the purchase of shares in the Suez canal for the British government in 1875. The word bank was taken into Middle English from Middle French banque , from Old Italian banco , meaning "table", from Old High German banc, bank "bench, counter". Benches were used as makeshift desks or exchange counters during
6528-515: The business of banking for the purposes of the legislation, and not necessarily in general. In particular, most of the definitions are from legislation that has the purpose of regulating and supervising banks rather than regulating the actual business of banking. However, in many cases, the statutory definition closely mirrors the common law one. Examples of statutory definitions: Since the advent of EFTPOS (Electronic Funds Transfer at Point Of Sale), direct credit, direct debit and internet banking ,
6630-533: The capital of the issuing bank falls below a certain level. Then debt is reduced and bank capitalisation gets a boost. Owing to their capacity to absorb losses, CoCos have the potential to satisfy regulatory capital requirement. The economic functions of banks include: Banks are susceptible to many forms of risk which have triggered occasional systemic crises. These include liquidity risk (where many depositors may request withdrawals in excess of available funds), credit risk (the chance that those who owe money to
6732-483: The cheque has lost its primacy in most banking systems as a payment instrument. This has led legal theorists to suggest that the cheque based definition should be broadened to include financial institutions that conduct current accounts for customers and enable customers to pay and be paid by third parties, even if they do not pay and collect cheques . Banks act as payment agents by conducting checking or current accounts for customers, paying cheques drawn by customers in
6834-411: The contraventions of certain provisions of the Banking Regulation Act, 1949 . In March 2023, HDB Financial Services suffered a breach exposing the data of more than 70 million customers, including email addresses, names, dates of birth, phone numbers, genders, post codes and loan information belonging to the customers. Banking A bank is a financial institution that accepts deposits from
6936-423: The cross-selling of complementary products. Banks face a number of risks in order to conduct their business, and how well these risks are managed and understood is a key driver behind profitability, and how much capital a bank is required to hold. Bank capital consists principally of equity , retained earnings and subordinated debt . Some of the main risks faced by banks include: The capital requirement
7038-431: The current alcohol laws of India , alcoholic beverage consumption is not permitted on the islands, except on Bangaram. In 2024, the government proposed further programmes to improve infrastructure and promote tourism. The potential negative effects of tourism on the environment and ecosystem of the islands is a subject of debate. There is no single power grid that connects Lakshadweep; independent power houses cater to
7140-408: The customer's order – although money lending, by itself, is generally not included in the definition. Unlike most other regulated industries, the regulator is typically also a participant in the market, being either publicly or privately governed central bank . Central banks also typically have a monopoly on the business of issuing banknotes . However, in some countries, this is not the case. In
7242-404: The eastern side of Lakshadweep and away from the low-lying lagoons to the West. The soil is generally sandy, derived from coral. According to a 2017 report, the Parali I island of Bangaram atoll has eroded and is completely inundated. Four other islands in the atoll also show various degrees of erosion: Parali II (80%), Thinnakara (14.4%), Parali III (11.4%), and Bangaram (9.9%). The islands have
7344-452: The equity capital of HDFC Bank. As of March 2024, HDFC Bank's distribution network included 8,735 branches and 20,938 ATMs (cash recyclers; cash deposit and withdrawal) spread throughout 3,836 cities and villages. The distribution network of HDFC Ltd., which consists of 737 locations and includes 214 offices of HDFC Sales Private Limited, has been integrated into the network of the Bank. HDFC Bank
7446-589: The funding of these loans, in order to ensure that the banks can meet demands for payment of such deposits. These reserves can be acquired through the acceptance of new deposits, sale of other assets, or borrowing from other banks including the central bank. Activities undertaken by banks include personal banking , corporate banking , investment banking , private banking , transaction banking , insurance , consumer finance , trade finance and other related. Banks offer many different channels to access their banking and other services: A bank can generate revenue in
7548-421: The funds the company had raised through external commercial borrowing (ECB) and parked at the bank. They claimed that HDFC bank's decision to transfer money from the account may be a violation of the RBI's end-use rule. On 27 May 2021, RBI imposed a penalty of ₹100 million on HDFC Bank for deficiencies in regulatory compliances with regard to its auto loan portfolio. The said penalty was imposed with regard to
7650-713: The government unveiled a plan to develop three ports at Androth, Kalpeni and Kadamath islands as a part of the Sagar Mala project . The ten inhabited island each have a minor port. There are fifteen lighthouses on the islands, with the Minicoy Island Lighthouse (built in 1885) being the first modern lighthouse. The Indian Navy operates the INS Dweeprakshak naval base under the Southern Naval Command , commissioned in 2012. The first public school
7752-510: The island. Tamil Sangam literature Patiṟṟuppattu mentions that the region was ruled by the Cheras , one of the three kingdoms of ancient Tamilakam , in the Sangam period (3rd century BCE to 3rd century CE). The islands have been known to sailors since at least 1st century CE, as indicated in the Periplus of the Erythraean Sea . It contains an anonymous reference to the islands off
7854-560: The islands are descendants of migrants from the Malabar coast of Southwest India and are ethnically similar to the Mappilas of Kerala . According to local tradition, Islam was brought to the islands by Ubaidullah in 661 CE. Although Islam is the predominant religion currently, the earliest settlers were probably Hindus, evidenced by the current social stratification and matrilineal kinship system in Lakshadweep. The southernmost island of Minicoy
7956-422: The islands are part of an archipelago of fewer islands. English is the designated official language while Jeseri , a dialect of Malayalam , is the widely spoken native language . Dhivehi is the most spoken language in the Minicoy Island . The region comes under the judicial jurisdiction of the Kerala High Court . Fishing and agriculture are the major occupations in the islands. The name Lakshadweep
8058-829: The islands became part of the Dominion of India , and later came under the administration of the Madras State after the Constitution of India was enacted in 1950. Following the States Reorganisation Act (1956) , the islands, which were earlier divided between the South Canara and Malabar districts of the Madras state, were organized into a separate union territory administered by the Government of India . The Laccadive, Minicoy, and Amindivi Islands were collectively renamed as
8160-539: The islands in 2018. The government is promoting tourism as a means to increase the income of the local population, with Bangaram and Kadmat islands being promoted as potential tourist destinations. To promote tourism, activities such as scuba diving , wind surfing , snorkelling , surfing , kayaking , canoeing , water skiing , sportfishing , yachting and night sea voyages have been established. Tourists require permission to visit Lakshadweep and foreign nationals are not permitted to visit certain islands. According to
8262-510: The islands in their writings. Local traditions attribute the first settlement on the islands to Cheraman Perumal , the last Chera king of Kerala, though no historical evidence exists apart from the presence of ancient Hindu social stratification . According to local tradition, Islam was brought to the islands by Ubaidullah in 661 CE, whose purported grave is located in the Andrott island. Inscriptions from Vayalur (in Tamil Nadu ) indicates
8364-408: The islands. As of 2019 , there are 228 km (142 mi) of paved roads and no railway in the territory. Additional roads have been planned, including a peripheral road at Kavaratti and beach front roads at Kadamath and Agatti islands. As of 2023 , seven ships operate passenger services between Kochi and the islands, with seasonal boat/ferry services available between islands. In 2024,
8466-883: The islands. Nearly 400 species of flowering plants have been documented, including three species of sea grasses Cymodocea isoetifolia , Syringodium isoetifolium and Thalassia hemprichii , other angiosperms such as Pandanus , Heliotropium foertherianum , Tournefortia argentea and Pemphis acidula , fungi , algae , and lichens . The common flora of the atolls include coconut groves and coastal shrubs such as Pemphis acidula , Cordia subcordata , Scaevola taccada , Thespesia populnea , Suriana maritima , Dodonaea viscosa , Guettarda speciosa , and seaweeds such as sea lettuces , Codium , and Hypena . There are over 600 recorded species of marine fishes, 78 species of corals , 82 species of seaweed , 52 species of crabs , 2 species of lobsters , 48 species of gastropods , and 12 species of bivalves . It
8568-442: The issue of a bank license vary between jurisdictions but typically include: Banks' activities can be divided into: Most banks are profit-making, private enterprises. However, some are owned by the government, or are non-profit organisations . The United States banking industry is one of the most heavily regulated and guarded in the world, with multiple specialised and focused regulators. All banks with FDIC-insured deposits have
8670-409: The largest 1,000 banks in the world grew by 6.8% in the 2008–2009 financial year to a record US$ 96.4 trillion while profits declined by 85% to US$ 115 billion. Growth in assets in adverse market conditions was largely a result of recapitalisation. EU banks held the largest share of the total, 56% in 2008–2009, down from 61% in the previous year. Asian banks' share increased from 12% to 14% during
8772-450: The legal basis for bank transactions such as cheques does not depend on how the bank is structured or regulated. The business of banking is in many common law countries not defined by statute but by common law, the definition above. In other English common law jurisdictions there are statutory definitions of the business of banking or banking business . When looking at these definitions it is important to keep in mind that they are defining
8874-445: The majority of human ancestry in the islands derived from South Asia . Archaeological evidence from Kalpeni indicate the existence of human settlements in the region from at least 1500 BCE. The islands are mentioned in the Buddhist Jataka tales , dated to 3rd century CE. Archeological evidence indicates the spread of Buddhism to the islands during the time of Sanghmitra , the daughter of emperor Ashoka , presumed to have visited
8976-481: The most famous Italian banks, the Medici Bank , in 1397. The Republic of Genoa founded the earliest-known state deposit bank, and Banco di San Giorgio (Bank of St. George), in 1407 at Genoa , Italy. Fractional reserve banking and the issue of banknotes emerged in the 17th and 18th centuries. Merchants started to store their gold with the goldsmiths of London , who possessed private vaults , and who charged
9078-473: The only commercial varieties. The government runs a tuna canning factory in the islands. Fishing is carried out using mechanized fishing boats, traditional country crafts, and country crafts fitted with outboard motors. Tourism in Lakshadweep began in 1974, when the Bangaram atoll was opened for international tourism. According to government statistics, 10,435 domestic tourists and 1,313 foreign tourists visited
9180-455: The past 20 years, American banks have taken many measures to ensure that they remain profitable while responding to increasingly changing market conditions. This helps in making a profit and facilitates economic development as a whole. Recently, as banks have been faced with pressure from fintechs, new and additional business models have been suggested such as freemium, monetisation of data, white-labeling of banking and payment applications, or
9282-539: The population lived in urban areas. As per the NSO survey in 2017, the literacy rate was 92.28%, the second highest amongst all Indian territories. As per the NFHS, the fertility rate was 1.4, significantly below the national average of 2.0. Islam (96.6%) is the major religion of people of the islands with Sunni Islam being the predominant denomination, followed by Hinduism (2.8%) and Christianity (0.5%). Most settlers of
9384-459: The power requirements of the islands. Minicoy was the first island to be electrified in 1962, followed by Kavaratti in 1964 and others later, with Bitra being the last island to be electrified in 1982. Two diesel generators were established in 1962, which generate about 51.6 Kilo Watts of power. As of 2012 , the islands have 41 diesel generators and 12 solar photovoltaic systems with a total installed capacity of 18.5 Mega Watts. In January 2024,
9486-479: The public and creates a demand deposit while simultaneously making loans . Lending activities can be directly performed by the bank or indirectly through capital markets . Whereas banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking , under which banks hold liquid assets equal to only
9588-418: The public sector, and the manufacture of food products and furniture . With a minimal arable land of 2.58 hectares, the major agriculture produce is coconuts. The major exports from Lakshadweep are coconut products including coconut fibre (coir) and fishes. The government runs five coir factories, five production demonstration centers, and seven curling units that produce coir fiber, yarn and mats. With
9690-462: The region was captured by Rajendra Chola I in 1018-19 CE. In the late 11th century CE, it became part of a small Hindu kingdom before being passed on to the Kingdom of Kannur in early 12th century CE. The islands are mentioned in the writings of travelers Marco Polo and Ibn Battuta in the 13th-14th century CE. In the late 15th century CE, the islands came under the control of the Portuguese as
9792-557: The suspension, Apple was reported to have partnered with American Express , Axis Bank , and ICICI Bank to offer similar promotional benefits to its customers in India. On 2 December 2020, the Reserve Bank of India (RBI) ordered HDFC Bank to temporarily halt the issuance of new credit cards and all planned activities under the bank's Digital 2.0 program, citing incidents of outages in the bank's internet banking, mobile banking and payment utility services. On 29 January 2020, RBI imposed
9894-459: The year, while the share of US banks increased from 11% to 13%. Fee revenue generated by global investment in banking totalled US$ 66.3 billion in 2009, up 12% on the previous year. The United States has the most banks in the world in terms of institutions (5,330 as of 2015) and possibly branches (81,607 as of 2015). This is an indicator of the geography and regulatory structure of the US, resulting in
9996-572: Was developed at the National Institute of Ocean Technology and the government has announced plans to build three more such plants. Mobile communication service is provided by state-owned BSNL across all inhabited islands and Airtel in Kavratti and Agatti islands. In 2020, the government announced a project to install under-sea fiber optic cable for high-speed mobile and internet connectivity between Kochi and 11 islands of Lakshadweep, which
10098-520: Was established by India's largest media conglomerate, The Times Group . In July 2001, HDFC Bank's ADS listed on the New York Stock Exchange after an IPO. In 2008, HDFC Bank acquired the Centurion Bank of Punjab (CBoP) for ₹ 9,510 crore (US$ 2.19 billion) in a share-swap deal, reportedly the largest acquisition in the Indian financial sector at the time. In 2021, the bank acquired
10200-530: Was established in 1956 and constitutes a single Indian district . The headquarters of the union territory were at Kozhikode until 1964, when the seat of the administrator of the islands was shifted to Kavaratti. Since then, the administration secretariat is based in Kavaratti. The territory is divided into ten administrative sub-divisions headed by sub-divisional officers, except the Minicoy and Agatti islands which are headed by deputy collectors. The ten inhabited islands have village panchayats consisting of
10302-424: Was inaugurated in January 2024. Post offices run by India Post provide mail service. Lakshadweep is served by four hospitals with 200 beds, four primary health centers, and 14 sub-health centers operated by the government. The only airport in the territory is Agatti Airport on Agatti island. The 1.2 km (0.75 mi) runway is capable of serving small turboprop aircraft. The government announced
10404-466: Was opened in Amini in 1904, followed by the establishment of elementary schools at Kiltan in 1911 and Kadmat in 1925. The first high schools were established in the 1960s in Amini and Kalpeni. As of 2023 , there are 50 schools catering to 8,350 students. There are four government colleges affiliated to Pondicherry University and two colleges and three university centers affiliated to Calicut University in
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