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In today’s dynamic world banks are inevitable for the development of a country. Banks play a
pivotal role in enhancing each and every sector. They have helped bring a draw of development on
the world’s horizon and developing country like India is no exception.
Banks fulfills the role of a financial intermediary. This means that it acts as a vehicle for moving
finance from those who have surplus money to (however temporarily) those who have deficit. In
everyday branch terms the banks channel funds from depositors whose accounts are in credit to
borrowers who are in debit.
Without the intermediary of the banks both their depositors and their borrowers would have to
contact each other directly. This can and does happen of course. This is what has lead to the very
foundation of financial institution like banks.
Before few decades there existed some influential people who used to land money. But a
substantially high rate of interest was charged which made borrowing of money out of the reach of
the majority of the people so there arose a need for a financial intermediate.
The Bank have developed their roles to such an extent that a direct contact between the depositors
and borrowers in now known as disintermediation.
Banking industry has always revolved around the traditional function of taking deposits, money
transfer and making advances. Those three are closely related to each other, the objective being to
lend money, which is the profitable activity of the three. Taking deposits generates funds for lendingand money transfer services are necessary for the attention of deposits. The Bank have introduced
progressively more sophisticated versions of these services and have diversified introduction in
numerable areas of activity not directly relating to this traditionaltrinity
HDFC is India's premier housing finance company and enjoys an impeccable track record in
India as well as in international markets. Since its inception in 1977, the Corporation has
maintained a consistent and healthy growth in its operations to remain the market leader in
mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has
developed significant expertise in retail mortgage loans to different market segments and also has
a large corporate client base for its housing related credit facilities. With its experience in the
financial markets, a strong market reputation, large shareholder base and unique consumer
franchise, HDFC was ideally positioned to promote a bank in the Indian environment.HDFC Bank began operations in 1995 with a simple mission : to be a “ World Class Indian
Bank.” They realized that only a single minded focus on product quality and service excellence
would help us get there. Today, we are proud to say that we are well on our way towards that
goal.
HDFC Ltd has the objective to enhance residential housing stock and promote home ownership.
Their offerings range from hassle-free home loans and deposit products, to property related services
and a training facility. They also offer specialized financial services to the customer base through
partnerships with some of the best financial institutions worldwide.
HDFC Bank is a young and dynamic bank, with a youthful and enthusiastic team determined to
accomplish the vision of becoming a world-class Indian bank.
Our business philosophy is based on four core values - Customer Focus, Operational Excellence,
Product Leadership and People. We believe that the ultimate identity and success of our bank will
reside in the exceptional quality of our people and their extraordinary efforts. For this reason, we
are committed to hiring, developing, motivating and retaining the best people in the industry.
HDFC Bank specializes in the provision of banking and other financial services to corporate and
institutional clients. The companys services include commercial, transactional and electronic
banking products. It also provides treasury services, retail banking and capital markets
infrastructure. The company primarily operates in India. HDFC Bank is headquartered in Mumbai,
India and employs about 14,900 people. The company recorded revenues of INR124,928 million
(approximately $3,131.9 million) during the fiscal year ended March 2008, an increase of 51.9%
over 2007. The net profit was INR15901.8 million (approximately $398.7 million) in fiscal year
HDFC Bank is a young and dynamic bank, with a youthful and enthusiastic team determined
to accomplish the vision of becoming a world-class Indian bank.
HDFC’s business philosophy is based on four core values - Customer Focus, Operational
Excellence, Product Leadership and People. They believe that the ultimate identity and
success of bank will reside in the exceptional quality of people and their extraordinary efforts.
For this reason, they are committed to hiring, developing, motivating and retaining the best
people in the industry.
Why HDFC is better …?
1. Investment returns: investment returns and business growth provided by HDFC is
validated by bajaj Capital report. HDFC pacify the need of invertors up to healthy level and
make the strong relationship with them.
2. Financial Background and Experience: HDFC existing in the market since 1977. It has a
very handsome experience in the field of finance because it completely involved in finance
Sector only where as the others are running in many other field also like Reliance
(Petroleum, Textile, Telecom etc.)
3. Ethics and Values: HDFC is an ethical and cultural organization which prevents the false
selling and prohibit the false commitment to the customer.
4. Sales Force: Properly trend licensed and Educated People are the strength of the company.
So that they could give the best customer service.
5. Huge branch network HDFC is having 450 branches in all over the country.
6. Online accessibility : It makes the process faster and make the customer delighted.
MISSION AND BUSINESS STRATEGY:-
Mission of HDFC is to be "a World Class Indian Bank", benchmarking themselves against
international standards and best practices in terms of product offerings, technology, service levels,
risk management and audit & compliance. The objective is to build sound customer franchises
across distinct businesses so as to be a preferred provider of banking services for target retail and
wholesale customer segments, and to achieve a healthy growth in profitability, consistent with theBank's risk appetite. They are committed to do this while ensuring the highest levels of ethical
In this account customer can get salary from where he/she doing such job and organization or
company at where the customer of the bank in doing job deposit their salary in to the salary account
a person can get salary.
There are various kinds of saving accounts in the HDFC Bank like: -
Pay roll account.
Classic salary account.
Regular salary account.
Premium salary account.
Defense salary account.
No frills salary account.
Reimbursement salary account.
KID’S ADVANTAGE ACCOUNT
Start saving for your child today and secure his/her future a sentence tells by the Hdfc bank. Open a
Savings Account and transfer money every month into customer’s Kids Advantage Account and
watch the savings grow as customer’s child grows. The accumulated savings in the Kids Advantage
Account can over the years help in meeting customer child's needs.
Main features and benefits of this account are as follow:-
CURRENT ACCOUNTS
HDFC Bank Current Account gives the power of inter-city banking with a single account and
access to more than cities. From special cheques that get treated at par with local ones in any city
where branch, faster collection of outstation cheques (payable at branch locations), free account to
account funds transfer between HDFC Bank accounts to Free inter-city clearing of up to 100 lakhs per month, bank’s priority services have become the benchmark for banking efficiency.
Now, with an HDFC Bank Current Account, experience the freedom of multi-city banking. Person
can have the power of multi-location access to his account from any of our 761 branches in 327
cities. Not only that, he can do most of his banking transactions from the comfort of his office or
home without stepping out.
There are various kinds of current account in this bank like: -
HDFC Bank plus Current Account gives the power of inter-city banking with a single account and
access to more than cities. Plus Current Account requires maintaining an average quarterly balance
of Rs. 100,000.
TRADE CURRENT ACCOUNT
In today's changing business requirements, you need to transfer funds across cities, and time is of
the essence. HDFC Bank Trade Current Account gives power of inter-city banking with a single
account.
From special cheques that get treated at par with local ones in any city where bank have a branch,
to free account to account funds transfer between HDFC Bank accounts, to free inter-city clearing
of up to 50 lakhs per month, bank’s priority services have become the benchmark for bankingefficiency. Trade Current Account requires maintaining an average quarterly balance of Rs. 40,000.
PREMIUM CURRENT ACCOUNT
Business needs a partner who can manage finances while concentrate on growing business. Form
this account customer can avail benefits of inter-city banking account that requires an average
quarterly balance of only Rs. 25,000, offers Payable-At-Par cheque book facility & FREE inter-city
clearing transactions across our network up to Rs.25 Lacs per month.
A Current Account with the benefits of accessing account from a large network of branches, and
through direct access channels - the phone, mobile, Internet and through the ATM.
REGULAR CURRENT ACCOUNT
A Current account is ideal for carrying out day-to-day business transactions. With the HDFC Bank
Regular Current Account, customer can access account anytime, anywhere, pay using payable at par
cheques or deposit cheque at any HDFC bank branch. It also facilitates FREE NEFT transactions &
FREE RTGS collections for faster collections in account. Regular Current Account requires to
maintain an average quarterly balance of only Rs. 10,000.
With a vast network of branches in cities all over the country, and access to a multitude of ATM's,
customer can keep track of all transactions anytime.
No more paperwork, no more receipts to keep track of - a hassle-free account that allows deposit
the reimbursements receive from company/organization on a monthly basis.
To open this account a person has to follow these processes:
Procure an Account Opening Document (AOD) from HDFC Bank. (If person has just joined, first
request to company to open up a Salary Account for particular person).
Mention Salary Account number and Debit Card number on the AOD so that Debit card can be
linked to both, Salary Account as well as new Reimbursement Account.
Request company to directly credit cash payments to the Reimbursement Account.
RFC – DOMESTIC ACCOUNT
Full name of this account is Resident foreign currency account.
Have you accumulated foreign currency from travelling abroad frequently? Received gifts from
relatives in foreign currency? Or earned it by any other means as approved by the Reserve Bank of
India?
If so, open Resident Foreign Currency Domestic Account and manage foreign currency efficiently.
Person can choose to set up your account either in US Dollar, Great Britain Pound or Euro.
To open this accounts a person as to follow this process: -Choose the currency in which person wish to operate. Open account with an initial amount as per
the following-US Dollar = 250 Great Britain Pound = 200 Euro = 250 and maintain an Average
Quarterly Balance of the same amount.
FLEXI CURRENT ACCOUNT
Tired of static transaction limits during peak seasons? HDFC Bank Flexi Current Account is the
answer to changing banking needs during peak seasons.With HDFC Bank Flexi Current Account Cash Deposit and Anywhere Transaction limits are a
multiple of the balance you maintain in Current Account. So, during peak seasons, customer get the
benefit of higher transaction limits due to the higher average balances maintained in account.
What’s more, during lean seasons, person need not worry about maintaining huge balances to enjoy
high transaction limits, which person anyway may not need. Flexi Current Account requires to
maintain a minimum Average Monthly Balance (AMB) of just Rs. 75,000.
APEX CURRENT ACCOUNT
The top position is always the desirable position. With the Apex current account, take business to a
SESSION SECURITY: Access to the customers are provided through a secure webpage that
encrypts the session between the customer's computer and the webpage using 128-bit encryption so
that the communication between the customer's computers and the webpage cannot be intercepted
by anyone over the internet.HDFC Bank systems time out the customer's login sessions to his Net
Banking account upon prolonged inactivity for protection against misuse.
DIGITAL CERTIFICATE: The webpage of the HDFC Bank's internet banking server is identified
by means of a digital certificate provided by Verisign to ensure its customer that they are on the
correct site and protect themselves from revealing their confidential account information on some
fake website.
VIRTUAL KEYBOARD: Customer can use the feature of Virtual Keyboard while logging into his Net Banking account. This protects the users IPIN from being compromised by key logger software
installed on untrusted/shared computers e.g. cyber cafes.
INSTA ALERT: The Bank has Insta Alert service to send SMS/ Email alert to the customer upon
registration for defined transaction denominations and while adding beneficiary/ies for carrying out
Third Party Transfer transactions.
SECURITY SOLUTIONS:All banking systems are secured using state-of-the-art security
solutions acknowledged world wide viz, firewalls, intrusion detection systems, intrusion preventionsystems, anti-malware systems to extend secure banking services to our customers.
SECURITY TEAMS: The Bank has robust processes, skilled people and competent service
providers who monitor the security of our systems round the clock.
The Stamp Duty Franking Facility is available at following branches in Gujarat
Disbursement of Pension to retired Employees of Central Govt and Defence is directly done
by HDFC Bank along with the disbursement of pension to the members of EPFO
(Employees Provident Fund Organisation).
Electronic Collection of fees on behalf of DGFT is done by the bank too.
HUMAN RESOURCE DEPARTMENT
“Human Resource Management function that helps managers recruit, select, train and develop
members for an organization. Obviously, HRM is concerned with the people’s dimension in
organizations.
Work force of an Organization is one of the most important inputs of components. It is said that
people are our single most important assets. Because of the unique importance of HUMAN
RESOURCE and its complexity due to ever changing psychology, behavior and attitudes of men
and women at work, in all business concerns, there is one common element. I.e. Human personnel
function, i.e., manpower management function is becoming increasingly specialized. The personnel
function or system can be broadly defined as the management of people at work- management of managers and management of workers. Personnel function is particularly interested in personnel
• Custody and depository services• Finance• Human resources• Operations
4. • Wholesale banking• Corporate banking• Credit and market risk • Customer service desk • Emerging corporate group• Emerging enterprise group• Equities and private banking• FIG• Health care finance• Investment banking• NRI businesses
• Stock exchange and correspondent banking
This policy complies with, and supports, the Company’s Equal Opportunities Policy by:
• Ensuring that every stage of the recruitment and selection process is carried out in a
systematic way, based on pre-agreed criteria, to eliminate the potential for personal bias
affecting the decision making process.
• Ensuring that all decision points are fully documented to assist with subsequent monitoring.
•
Making the whole procedure as open as possible, to ensure that all candidates understandwhy decisions have been taken and, where they wish, to obtain meaningful feedback.
• Enabling demonstration of robust, transparent processes and thereby providing a basis for
defense in the event of challenge.
There are seven main stages to the procedure:
Pre-advertisement
Placing advertisements and dealing with enquiries and applicants
Short-listing
Interviewing and selection
Post-selection procedures
Induction
Monitoring
Analyzing Your Workplace:
To assist you analyze your workplace to identify recruitment or selection issues for women, we
its ability to retain a workforce of the highest quality. This recruitment and selection policy sets out
the procedure to ensure that the best people are recruited on merit and that are the recruitment
process is free from bias and discrimination.
PRINCIPLES:
Following are the guiding principles for recruitment and on-boarding process.
• Attracting and recruiting the right people is one of the most important activities of the organization
and is the responsibility to be owned by each and every employee of the organization.
• Merit will be the single most important factor in selection process.
• They will ensure a diversity, both gender and ethnicity by targeted candidate sourcing with the
help of recruitment vendors and the referral program.
• While skills and profile matching play an important role, they will hire people who are team players and have the right attitude most relevant to the culture of the organization. Attitude is as
important as aptitude.
• They believe in becoming a company of giants and emphasis is in hiring people who can grow
bigger and better than they presently are.
• They believe in providing their employee with fulfilling career paths. Towards this, they will post
vacancies internally as a preferred option while evaluating external candidates.
• They believe that each candidate interviewed irrespective of whether she/he is selected should become a friend of the organization. They treat all the candidates with the utmost respect. They
will be open and fair in communication with them; this way they also enhance the brand image of
the organization.
• They will continuously assess, identify and cultivate strategic talent pools including those at the
universities, management schools, and community forums to address their long term needs.
HIRING APPROVAL
• All recruitment activities shall be undertaken based on the hiring plan as approved by the Business
Head, HR Head & the CEO. For each approved position, a hiring requisition will be required prior
to initiation of any recruitment activity. If the hiring was not included in the planned budget, it will
also require approval from the CEO based on a recommendation from the Head HR and the CFO.
• Recruitment expense will be allocated to the concerned business unit, and expenditure should be
budgeted and pre-approved by the business unit head and the HR Head.
the results from a various interviews and provide these to the line manager for the final decision.
The following are the guidelines wit respect to the interview levels. The line manager will own the
overall interview process:
Position,
Level Equipment Hiring Decision by Interview by Salary Fitment Offer Letter Signed by Direct Report CEO Head CEO/ HR Head, Management Team (for relevant functions) Approval- CEO
Proposal – HR Head CEO
State Head/ Regional Function Heads, Cluster Heads Regional Branch Heads, Nationalfunctional Heads Regional Branch Head / National Functional Head, Regional HR Approval – CEO
Proposal – HR Head HR Head
Branch Manager / National Functional Managers Regional Branch Heads, National functionalHeads Regional Branch Head / National Functional Head, Regional HR, Cluster / State HeadApproval – HR Head
For campus / bulk hiring process, each panel will be specifically authorized with respect to hiringdecision, pay by the HR Head & CEO prior to the process.
RECRUITMENT EXPENSES:
• All recruitment expenses including recruitment fees, advertisement expenses and interview related
expenses will be allocated to the concerned business unit.
• The candidate will be informed about the nature of the expenses that are reimbursable and the
supporting documents required (in original). HR will ensure that candidate fills the necessary
reimbursement forms and that he/she receives the reimbursement at the earliest.
• Outstation/International Candidates - HDFC will pay for appropriate air fare and expenses
incurred for the stay for candidates who they decide to fly from other locations. Prior approval from
the Regional HR Leader / HR Head is required to invite candidates. For candidates from
International Locations, prior approval from the HR Head needs to be taken.
PRE-EMPLOYEMENT CHECK:
This will include both a professional reference check as well as the background check.
• Professional reference check will be completed by the hiring manager. HDFC will request contact
information for 2 references from the candidate, and check the quality of previous work experience