HDFC Bank completes 25 years of operations

Reported by: |Updated: February 19, 2020

HDFC Bank has completed 25 years of its operations in India. It planted 25 lakh trees and digitized 2500 classrooms to mark the occasion. Aditya Puri, MD and CEO of the bank right from the formation days, planted a guava tree at a municipal school in central Mumbai, where the bank also donated its first digital classroom. Puri, set to retire in October 2020, is credited with developing a culture that has zero tolerance for any leniency and has helped the bank in not getting ensnared in the non-performing assets-related troubles that have afflicted the entire system. The bank recorded a market cap of Rs 6.64 lakh crore on 18 February as against State Bank of India’s Rs2.83 lakh crore. In an unrelated development, the bank announced a tie-up with SAP Concur Solutions and Mastercard to launch a corporate credit card to handle out-of-pocket cash expenses for employees and prevent fraudulent claims. The bank will be providing a corporate credit card to the business travelers, with a one-stop solution for payment and expense management facility during business trips. The credit card will ensure seamless amalgamation of all business-related spend into SAP Concur offerings, enhancing the employee experience, increasing visibility, saving money, and improving corporate efficiency. The card is supported by Mastercard.