The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalisation of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995. HDFC Bank began operations in 1995 with a simple mission: to be a "World-class Indian Bank". Its awards and accolades for the year 2005 include the following-
Asiamoney Awards
Best Domestic Commercial Bank
Asiamoney Awards
Best Cash Management Bank India .
Hong Kong-based Finance Asia
"Best Bank in India"
magazine Economic Times Awards
"Company of the Year" Award for Corporate Excellence 2004-05.
The Business Today-KPMG Survey published in the leading Indian business magazine Business Today has named HDFC Bank "Best Bank in India" for the third consecutive year in 2005. M.P.Birla Institute of Management Associate Bharatiya Vidya Bhavan
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