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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 liberalization 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 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's mission is to be a World-Class Indian Bank. The objective is to build sound customer franchises across distinct businesses so as to be the preferred provider of banking services for target retail and wholesale customer segments, and to achieve healthy growth in profitability, consistent with the bank's risk appetite. The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank's business philosophy is based on four core values - Operational Excellence, Customer Focus, Product Leadership and People.

The authorized capital of HDFC Bank is Rs550 crore (Rs5.5 billion). The paid-up capital is Rs424.6 crore (Rs.4.2 billion). The HDFC Group holds 19.4% of the bank's equity and about 17.6% of the equity is held by the ADS Depository (in respect of the bank's American Depository Shares (ADS) Issue). Roughly 28% of the equity is held by Foreign Institutional Investors (FIIs) and the bank has about 570,000 shareholders. The shares are listed on the Stock Exchange, Mumbai and the National Stock Exchange. The bank's American Depository Shares are listed on the New York Stock Exchange (NYSE) under the symbol 'HDB'.
In a milestone transaction in the Indian banking industry, Times Bank Limited (another new private sector bank promoted by Bennett, Coleman & Co./Times Group) was merged with HDFC Bank Ltd., effective February 26, 2000. As per the scheme of amalgamation approved by the shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank. The acquisition added significant value to HDFC Bank in terms of increased branch network, expanded geographic reach, enhanced customer base, skilled manpower and the opportunity to cross-sell and leverage alternative delivery channels.
HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of over 1229 branches spread over 444 cities across India. All branches are linked on an online real-time basis. Customers in over 120 locations are also serviced through Telephone Banking. The Bank's expansion plans take into account the need to have a presence in all major industrial and commercial centers where its corporate customers are located as well as the need to build a strong retail customer base for both deposits and loan products. Being a clearing/settlement bank to various leading stock exchanges, the Bank has branches in the centers where the NSE/BSE has a strong and active member base.

The Bank also has a network of about over 2526 networked ATMs across these cities. Moreover, HDFC Bank's ATM network can be accessed by all domestic and international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders.
Mr. Jagdish Capoor took over as the bank's Chairman in July 2001. Prior to this, Mr. Capoor was a Deputy Governor of the Reserve Bank of India.
The Managing Director, Mr. Aditya Puri, has been a professional banker for over 25 years and before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia.
The Bank's Board of Directors is composed of eminent individuals with a wealth of experience in public policy, administration, industry and commercial banking. Senior executives representing HDFC are also on the Board.
Senior banking professionals with substantial experience in India and abroad head various businesses and functions and report to the Managing Director. Given the professional expertise of the management team and the overall focus on recruiting and retaining the best talent in the industry, the bank believes that its people are a significant competitive strength.
HDFC Bank operates in a highly automated environment in terms of information technology and communication systems. All the bank's branches have online connectivity, which enables the bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also provided to retail customers through the branch network and Automated Teller Machines (ATMs).
The Bank has made substantial efforts and investments in acquiring the best technology available internationally, to build the infrastructure for a world class bank. The Bank's business is supported by scalable and robust systems which ensure that our clients always get the finest services we offer.

The Bank has prioritized its engagement in technology and the internet as one of its key goals and has already made significant progress in web-enabling its core businesses. In each of its businesses, the Bank has succeeded in leveraging its market position, expertise and technology to create a competitive advantage and build market share.
HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build sound customer franchises across distinct businesses so as to be the preferred provider of banking services for target retail and wholesale customer segments, and to achieve healthy growth in profitability, consistent with the bank's risk appetite. The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank's business philosophy is based on four core values - Operational Excellence, Customer Focus, Product Leadership and People.
I. Credit Rating
The Bank has its deposit programs rated by two rating agencies - Credit Analysis & Research Limited (CARE) and Fitch Ratings India Private Limited. The Bank's Fixed Deposit programme has been rated 'CARE AAA (FD)' [Triple A] by CARE, which represents instruments considered to be "of the best quality, carrying negligible investment risk". CARE has also rated the bank's Certificate of Deposit (CD) programme "PR 1+" which represents "superior capacity for repayment of short term promissory obligations". Fitch Ratings India Pvt. Ltd. (100% subsidiary of Fitch Inc.) has assigned the "tAAA ( ind )" rating to the Bank's deposit programme, with the outlook on the rating as "stable". This rating indicates "highest credit quality" where "protection factors are very high".
The Bank also has its long term unsecured, subordinated (Tier II) Bonds rated by CARE and Fitch Ratings India Private Limited and its Tier I perpetual Bonds and Upper Tier II Bonds rated by CARE and CRISIL Ltd. CARE has assigned the rating of "CARE AAA" for the subordinated Tier II Bonds while Fitch Ratings India Pvt. Ltd. has assigned the rating "AAA (ind)" with the

outlook on the rating as "stable". CARE has also assigned "CARE AAA [Triple A]" for the Banks Perpetual bond and Upper Tier II bond issues. CRISIL has assigned the rating "AAA / Stable" for the Bank's Perpetual Debt programme and Upper Tier II Bond issue. In each of the cases referred to above, the ratings awarded were the highest assigned by the rating agency for those instruments.
II. Corporate Governance Rating
The bank was one of the first four companies, which subjected itself to a Corporate Governance and Value Creation (GVC) rating by the rating agency, The Credit Rating Information Services of India Limited (CRISIL). The rating provides an independent assessment of an entity's current performance and an expectation on its "balanced value creation and corporate governance practices" in future. The bank has been assigned a 'CRISIL GVC Level 1' rating which indicates that the bank's capability with respect to wealth creation for all its stakeholders while adopting sound corporate governance practices is the highest.
HDFC Bank offers a bunch of products and services to meet the every need of the people. The company cares for both, individuals as well as corporate and small and medium enterprises.
For individuals, the company has a range accounts, investment, and pension scheme, different types of loans and cards that assist the customers. The customers can choose the suitable one from a range of products which will suit their life-stage and needs.
For organizations the company has a host of customized solutions that range from Funded services, Non-funded services, Value addition services, Mutual fund etc. These affordable plans apart from providing long term value to the employees help in enhancing goodwill of the company.

The products of the company are categorized into various sections which are as follows:
• Accounts and deposits.
• Loans.
• Investments and Insurance.
• Forex and payment services.
• Cards.
• Customer center.
A. Accounts & Deposits
- Regular Savings Account
- Savings Plus Account
- SavingsMax Account
- Senior Citizens Account
- No Frills Account
- Institutional Savings Account
- Payroll Salary Account
- Classic Salary Account
- Regular Salary Account
- Premium Salary Account
- Defence Salary Account
- Kid's Advantage Account
- Pension Saving Bank Account

- Family Savings Account
- Kisan No Frills Savings Account
- Kisan Club Savings Account
- Plus Current Account
- Trade Current Account
- Premium Current Account
- Regular Current Account
- Apex Current Account
- Max Current Account
- Reimbursement Current Account
- RFC - Domestic Account
- Regular Fixed Deposit
- Super Saver Account
- Sweep-in Account
- HDFC Bank Preferred
- Private Banking
B. Loans
- Personal Loans
- Home Loans
- Two Wheeler Loans
- New Car Loans
- Used Car Loans
- Overdraft against Car

- Express Loans
- Loan against Securities
- Loan against Property
- Commercial Vehicle Finance
- Working Capital Finance
- Construction Equipment Finance
- Offers & Deals
- Customer Center
C. Investments & Insurance
- Mutual Funds
- Insurance
- Bonds
- Financial Planning
- Knowledge Centre
- Equities & Derivatives
- Mudra Gold Bar
D. Forex Services
- Trade Finance
- Travelers’ Cheques
- Foreign Currency Cash
- Foreign Currency Drafts
- Foreign Currency Cheque Deposits
- Foreign Currency Remittances

- Cash To Master
- ForexPlus Card
E. Payment Services
- Net Safe
- Prepaid Refill
- Bill Pay
- Direct Pay
- Visa Money Transfer
- E-Monies Electronic Funds Transfer
- Excise & Service Tax Payment
F. Access Your Bank
- One View
- Insta Alerts
- Mobile Banking
- Phone Banking
- Branch Network
G. Cards
- Silver Credit Card
- Gold Credit Card
- Woman's Gold Credit Card
- Platinum plus Credit Card
- Titanium Credit Card

- Value plus Credit Card
- Health plus Credit Card
- HDFC Bank Idea Silver Card
- HDFC Bank Idea Gold Card
- Compare Cards
- Transfer & Safe
- Track your Credit Card
H. Get More from Your Card
- Offers & Savings
- My Rewards
- Insta Wonderz
- Add-On Cards
- Credit Card Usage Guide
- Easy EMI
- Net safe
- Smart Pay
- Secure Plus
- My City Benefit Card
- Debit Cards
- Easy Shop International Debit Card
- Easy Shop Gold Debit Card
- Easy Shop International Business Debit Card
- Easy Shop Woman's Advantage Debit Card

- Prepaid Cards
- Forex Plus Card
- Kisan Card
I. Customer Centre
- Offers & Deals
- Winners of Contests & Promotions
2. Wholesale Banking
A. Corporate
Funded Services
Non Funded Services
Value Added Services
Internet Banking
B. Small & Medium Enterprises
Funded Services
Non-Funded Services
Specialized Services
Internet Banking
C. Financial Institutions & Trusts
Financial Institutions
Mutual Funds
Stock Brokers

HDFC Bank began its 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, they are proud to say that they are well on our way towards that goal.
It is extremely gratifying that their efforts towards providing customer convenience have been appreciated both nationally and internationally.
• 2007
Business Today-Monitor Group survey One of India's "Most Innovative Companies".
Financial Express-Ernst & Young Award Best Bank Award in the Private Sector category.
Global HR Excellence Awards - Asia Pacific HRM Congress: ‘Employer Brand of the Year 2007-2008’-Award- First Runner-up.
Business Today ‘Best Bank Award’.
Dun & Bradstreet – American Express Corporate Best Bank Award 2007 ‘Corporate Best Bank’-Award.
The Bombay Stock Exchange and Nasscom Foundation's Business for Social Responsibility Awards 2007 ‘Best Corporate Social Responsibility Practice’ Award.
Outlook Money & NDTV Profit Best Bank Award in the Private sector category.
The Asian Banker Excellence in Retail Financial Services Awards Best Retail Bank in India.
Asian Banker Managing Director Aditya Puri won the Leadership achievement Award for India.

• 2006
Business Today Best Bank in India.
Forbes Magazine One of Asia Pacific's Best 50 companies.
Business world Best listed Bank of India.
The Asset Magazine's Triple A Country Awards Best Domestic Bank.
Asiamoney Awards Best Local Cash Management Bank in Large and Medium segments.
Euromoney Awards "Best Bank" in India.

• 2005
Asiamoney Awards Best Domestic Commercial Bank
Asiamoney Awards Best Cash Management Bank - India .
The Asian Banker Excellence Retail Banking Risk Management Award in India.
Hong Kong-based Finance Asia magazine Best Bank in India
Economic Times Awards "Company of the Year" Award for Corporate Excellence.
The Asset Triple A Country Awards Best Domestic Bank in India Region - 2005
The Business Today-KPMG Survey Best Local Cash Management Bank in India US$11-100m - 2005
The Business Today-KPMG Survey "Best Bank in India" for the third consecutive year in 2005.
Economic Times - Avaya Global Connect Customer Responsiveness Awards "Most Customer Responsive Company - Banking and Financial Services - 2005

• 2004
Asiamoney Awards Best Local Cash Management Bank in India US$11-100m
Asiamoney Awards Best Local Cash Management Bank in India >US$501m
Asiamoney Awards Best Local Cash Management Bank in India 1989-2004 (poll of polls)
Asiamoney Awards Best Overall Domestic Trade Finance Services in India - 2004
Asiamoney Awards Most Improved company for Best Management Practices in India - 2004
Business World One of India's Most Respected Companies - 2004
Forbes Global Best Under a Billion, 100 Best Smaller Size Enterprises in Asia/Pacific and Europe - 2004
Asian Banker Awards Operational Excellence in Retail Financial Services - 2004
The Asset Triple A Country Awards Best Domestic Bank in India - 2004

• 2003
Forbes Global Best Under a Billion, 200 Best Small Companies - 2003
The Asset Triple A Country Awards Best Domestic Bank in India -2003
BusinessWorld - The Business World Most Respected Company Awards One of India's Most Respected Companies
The Asset magazine Best Cash Management Bank
The Asset magazine Best Trade Finance Bank
FE-Ernst & Young Best Banks Survey Best New Private Sector Bank - 2003
Outlook Money Best Bank in the Private Sector – 2003
Business Today Best Bank in India -2003
NASSCOM & economictimes.com - IT Users Awards Best IT User in Banking -2003

• 2002
Hong Kong-based Finance Asia magazine Best Local Bank - India
Hong Kong-based Finance Asia magazine "Best Local Bank - India"
Euromoney magazine "Best Bank in India
Asiamoney magazine Commercial Bank in India 2002

• 2001
Hong Kong-based Finance Asia magazine Best Domestic Commercial Bank - India
Hong Kong-based Finance Asia magazine "Best Domestic Commercial Bank - India
Euromoney magazine "Best Bank in India
Forbes Global Named in The 300 Best Small Companies one of the "20 for 2001" best FE-E&Y Best Banks small companies
The Economic Times Awards for Corporate Excellence as the Emerging Company of the Year

• 2000
Hong Kong-based Finance Asia magazine Best Domestic Commercial Bank - India
Hong Kong-based Finance Asia magazine "Best Domestic Commercial Bank - India
Euromoney magazine Best Domestic Bank
Business India " India 's Best Bank"
Forbes Global Named in The 300 Best Small Companies one of the "20 for 2001" best FE-E&Y Best Banks small companies

HDFC Bank and Centurion Bank of Punjab merger at share swap ratio of 1:29
The Boards of HDFC Bank and Centurion Bank of Punjab met on 25 February, 2008 and approved, subject to due diligence, the share swap ratio for the proposed merger of Centurion
Bank of Punjab with HDFC Bank. The Scheme of Amalgamation envisages a share exchange ratio of one share of HDFC Bank for twenty nine shares of Centurion Bank of Punjab.

The combined entity would have a nationwide network of 1,148 branches (the largest amongst private sector Banks) a strong deposit base of around Rs. 1,200 billion and net advances of around Rs. 850billion. The balance sheet size of the combined entity would be over Rs. 1,500 billion.

Commenting on the proposed merger, Mr. Deepak Parekh, Chairman, HDFC said, “We were
amongst the first to get a banking license, the first to do a merger in the private sector with Times Bank in 1999, and now if this deal happens, it would be the largest merger in the private sector banking space in India. HDFC Bank was looking for an appropriate merger opportunity that would add scale, geography and experienced staff to its franchise. This opportunity arose and we thought it is an attractive route to supplement HDFC Bank’s organic growth. We believe that Centurion Bank of Punjab would be the right fit in terms of culture, strategic intent and approach to business.”

Mr. Aditya Puri, Managing Director, HDFC Bank said, “These are exciting times for the Indian banking industry. The proposed merger will position the combined entity to significantly exploit opportunities in a market globally recognized as one of the fastest growing. I’m particularly bullish about the potential of business synergies and cultural fit between the two organizations. The combined entity will be an even greater force in the market.”

Mr. Rana Talwar, Chairman, Centurion Bank of Punjab stated, “Over the last few years, Centurion Bank of Punjab has set benchmarks for growth. The bank today has a large nationwide

network, an extremely valuable franchise, 7,500 talented employees, and strong leadership positions in the market place. I believe that the merger with HDFC Bank will create a world class bank in quality and scale and will set the stage to compete with banks both locally as well on a global level.”

Mr. Shailendra Bhandari, Managing Director and CEO, Centurion Bank of Punjab said, “We are extremely pleased to receive the go ahead from our board to pursue this opportunity. A merger between the banks provides significant synergies to the combined entity. The proposed merger would further improve the franchise and customer proposition offered by the individual banks.”

• SECURITY: The bank provides long term financial security to their policy. The bank does this by offering life insurance and pension products.
• TRUST: The bank appreciates the trust placed by their policy holders in the bank. Hence, it will aim to manage their investments very carefully and live up to this trust.
• INNOVATION: Recognizing the different needs of our customers, the bank offers a range of innovative products to meet these needs.

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.

Mission and Business Strategy:
Our mission is to be "a World Class Indian Bank", benchmarking ourselves 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 the Bank's risk appetite. We are committed to do this while ensuring the highest levels of ethical standards, professional integrity, corporate governance and regulatory compliance.

Our business strategy emphasizes the following:
Increase our market share in India’s expanding banking and financial services industry by following a disciplined growth strategy focusing on quality and not on quantity and delivering high quality customer service.
Leverage our technology platform and open scalable systems to deliver more products to more customers and to control operating costs.

Maintain our current high standards for asset quality through disciplined credit risk management.

Develop innovative products and services that attract our targeted customers and address inefficiencies in the Indian financial sector.
Continue to develop products and services that reduce our cost of funds.
Focus on high earnings growth with low volatility.
1. Retail assets
• Credit cards
• Retail assets
• Retail credit
2. Retail liabilities
• Direct banking
• Direct sales liabilities
• Foreign exchange services
• Liabilities product group
• Marketing
• Retail branch banking
3. Support function
• 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
• Health care finance
• Investment banking
• NRI businesses
• Stock exchange and correspondent banking
Location: Agra to Varanasi.

Recruiting and selecting the right people is paramount to the success of the HDFC BANK LTD. and 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.
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.
• 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 hiring manager along with the Human Resource Department would decide the channel / source to use based on the nature of the recruitment. The following sources of recruitment may be considered:
• Internal Sources:
- Whenever any vacancy arises, the possibility of fulfilling the requirement internally via reassignment and relocation, re-allocation of the responsibilities or internal promotion will be explored by the hiring function along with the HR Department.
- Internal job postings to explore internal candidates.
• Employee Referrals – HDFC will encourage employees to refer suitable candidates for open positions.
• Other external sources include:
- Recruitment agencies
- External job postings

- College / campus requirement
- Requirement advertisements
HDFC will process all applications promptly and inform the applicant or source regarding the status of the application. HDFC will respond to all solicited applications within 5 working days of receiving the application.
• All candidates are required to undergo a face to face interview with the interview panel before selection.
• Interviews may be conducted at a place at mutually convenient locations and time in an effort to maintain confidentiality of the hiring effort.
• One on one meeting shall be preferred as the interview format, however depending on the constraints panel interviews / telephone / video conference screening could be used.
• For recruitment at junior levels, job fairs, universities etc, where large volume of candidates, HDFC will use recruitment tests for purpose of short listing. The candidate may be tested on the basic aptitude, analytical skills or other skills required for the job of the candidates.
• The interview process will focus on the evaluating the candidates suitability in terms of the job description and fit within the organization.
• Each interviewer will complete the interview feedback form and submit it to HR. HR will compile 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:
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, National functional 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 functional Heads Regional Branch Head / National Functional Head, Regional HR, Cluster / State Head Approval – HR Head
Proposal – C & B Manager HR Head
Senior Relationship Manager Regional Branch Head/ Branch Manager Regional Branch Head/ Branch Manager, Regional HR Approval – HR Head
Proposal – C & B Manager Staffing Leader
Junior Relationship Manager Branch Manager Branch Manager, Cluster Head Approval – C&B Manager
Proposal – Regional HR Mgr. Regional HR Manager

For campus / bulk hiring process, each panel will be specifically authorized with respect to hiring decision, pay by the HR Head & CEO prior to the process.
• 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.
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 and key personal characteristics/conduct/ previous record etc.
• For key positions in areas, HDFC will also perform a background check to assess the integrity / conduct of the candidate.
• The following information regarding the candidate will be verified:
 Proof of educational qualifications
 Any professional certificate that is essential to the job
 Address details

 Passport details
 Date of birth
 Proof of previous employment (service certificate)
Any negative feedback and comment in the reference check will be investigated by HR and if found genuine shall be a cause for disqualification of the candidate or dismissal from employment.
• Once the hiring decision is finalized, HR will prepare an offer / fitment as per the compensation structure and grade and keeping in mind the internal equity.
• The offer would be communicated to the selected candidates by the hiring manager along with HR. The candidate will sign the contract letter to formally accept employment from the organization.
As an organization, HDFC will make all necessary arrangements to ensure a smooth joining process for the employees. HR will provide the candidate a check list prior to joining to ease joining formalities.
Where the employee has to relocate and has been pre-approved by the HR Head and the staffing leader, the relocating candidate shall be eligible for the following relocation assistance:
The joining employ has the option to avail temporary accommodation (which includes laundry) for the first two weeks arranged by organization. The stay in company provided accommodation can be extended by two weeks further based on specific approval from the Head HR. Where the stay extends beyond 4 weeks, the respective will not be paid housing allowance foe the corresponding period.

Local travel assistance up to positions of RO/RM/equivalent and below will be reimbursed for one week and for SRM/equivalent and above will be reimbursed up to two weeks.
Food expenses during the period will be reimbursed as per actual up to Rs 500/-per day per person.
Approved reasonable expenses incurred in transporting the personal goods including the transportation /registration of one automobile to the city of work. Employees are advised to use the designated moving agencies as per rates negotiated by Administration. Where negotiated rates are not available, the employee is required to submit 3 quotations and secure approval from Administration before assigning the contract to a moving firm.
The organization employs, purely on merit, the relatives of our employees as long as it does not create a potential conflict of interest. To avoid a potential conflict of interest and to reduce the possibilities of favoritism – the following guidelines must be followed:
Relatives are not assigned to a position where he/she has the opportunity to check, process, and review, approve, audit or otherwise affect the work of the persons cited and above.
NO one is assigned to a position where she/he influences the professional progress or promotion of the persons cited above.
If one is aware of a situation that appears to be an opportunity for people to display favoritism to relatives, one should contact the Department Head or Human Resources Department.
Employees will not be part of the hiring process of their relatives
Relatives would include husband, wife, children, parents, sisters, brothers, first cousins, brothers-in-law, sisters-in-law, mother –in-law, and father-in-law.

Employees who are aware of candidature of their relatives for the organization must immediately report to the HR function in writing for information and records. Failure to immediately report such cases will be considered as a serious violation of the recruitment policy and may entail a disciplinary action.
As part of university hire program, HDFC will provide internship opportunities to students. Such internships will provide opportunities to students to learn while making real contributions to the company. HDFC will follow the following process:
• HR will coordinate with business groups to identify potential opportunities for intern hires.
• Internship requests could be received either from the students directly or as nominations from the educational institute.
• HR and hiring manager to tele-interview the candidates with subsequent personal interviews in the office
• HR to coordinate with the hiring manager to develop the project plan for the hire
Based on the demonstrated capability, the intern will be provided with the opportunity to work in multiple departments to gain a wider business understanding
Typically, the intern will be a pre-final year student of the Bachelor or Master degree programs specializing in Financial Services/IT and any other business stream as required.
Interns will be expected to manage their won accommodation and it will not be provided by the company
Intern will be required to sign the confidentiality and code of conducts documents of the company

The overall purpose of the new hire integration process is to ensure that the new employee is able settle in smoothly and is able to contributing at the earliest.
HDFC’s employee induction process shall begin as per the employee accepts the job offer. The process includes:
Welcome pack: As soon as the candidate accepts the offer, a welcome pack will be sent to the employee
A congratulatory note regarding the decision to join the organization
Contact details of a HR representative and the hiring manager
A brief company overview document
Pre-joining checklist: Include details of the documents required from the employee. In case the employee is relocating from a different location, details of the relocation process and the visa requirement will be outlined in this checklist
Expectations on the first day of the joining
Office resources: HR shall intimate the immediate supervisor the joining date and immediate supervisor shall work with the IT and administration team to set up the following 5 days prior to employee joining, the following elements and are in working order: Email ID, phone, computing resources, work space/office, access cards, joining kit including bank account opening form, initial reading material

Joining kit: The employee upon joining would be welcomed by the HR representative and would be given a joining kit that will include: Access card, information on employee’s email and phone number, Bank account opening form, corporate insurance application form(if applicable),HR & Admin policy manual, other relevant reading material ( to be prepared by hiring manager)
Classroom Induction: The employee integration process will also include classroom training and induction where the employee will receive presentations and trainings on various topics that would further ingrain the into the organization
On the job training: Besides formal training sessions, the employee will undergo on-the-job function specific trainings that are facilitated by the respective functions to help the new employee acquaint himself/herself with work in progress.
Probation is a trial that is mutual opportunity for the employee and HDFC to confirm suitability for continued employment. The probation period is to establish a stronger understanding of mutual capabilities, expectations and understanding which may include functional training. The employee must demonstrate suitability for continued employment. An assessment will be based on factors related to work performance, work habits, productivity, attitude and compatibility, attendance and punctuality, and any other matter that is linked to job performance and expectations.
All new hires will be placed on probation for a period of 6 months from the date of joining
HR will initiate the confirmation process by sending an appraisal form to the immediate supervisor before the completion of probationary period. The appraisal form will need to be approved by the supervisor’s leadership
All letters of confirmation or extension of probation will be signed by the HR head and will be stored in employee file for records.

• The Referral Bonus Program is operated under the authority of the Budget and Control Board’s Employee Bonus Guidelines. Under these guidelines, an employee may receive multiple bonuses, the total of which may not exceed $2,000 in any fiscal year.
• Referral bonus payments may be paid in a lump sum or in periodic payments until the new employee has completed his or her probationary period. Payments cannot be made until the referred candidate has been employed for a minimum of one month. For example, a $1,000 referral bonus can be structured as follows:
- $250 referral bonus awarded after three months from the hire date,
- $250 referral bonus awarded after six months from the hire date,
- $500 referral bonus awarded at the end of the probationary period.
The Referral Program operates in accordance with the following program requirements:
• Referral bonuses are awarded at the discretion of management with the Agency Director or his designee having final approval authority.
• Funding for the program must come from existing agency resources.
• The Agency will provide a form for completion and submission by either the applicant or the referring employee with the applicant’s application indicating that the referring employee has made the referral.
• The Agency will designate a position as “hard-to-fill” before the position is posted.
• Employees selected for eligible positions must be employed by the agency for at least one month before a referring employee may be eligible to receive a referral bonus.
Referred candidates cannot be current employees of the hiring agency in any capacity, to include temporary, temporary grant, research grant, time- limited project, or contract employees. Both the referring employee and the referred candidate must be employed by the agency when any referral bonus is paid receive the referral bonus.

• Any disputes arising from the application of this program will be the responsibility of the Agency Director or his designee to resolve and will not be considered a grievance under the State Employee Grievance Procedure Act.
• The agency HR Office will monitor the use of the Referral Bonus Program and will report annually to the Office of Human Resources information on the use of the Referral Bonus Program.
• The hiring process will be fair and consistent with agency policy and procedures, with no bias for or against candidates whose selection might make another employee eligible for a referral bonus.
Amount paid to the employees who refer the candidates and if they get selected varies from Rs. 7000 to Rs.2000 based on the grade of the employee refereed and the refereed candidate placed.
This amount is paid to the employees in two ways:
1. Immediately when the candidate is joined
2. After the completion of 3 months of the candidate selected.
Only middle level and senior level management employees have the opportunity of referring the candidates. This policy/scheme is not applicable to the top management employees. Also the employees who are under probation or training period are not eligible for this employee referral policy.

1. Recruitment at an officer and managerial level is not done effectively.
2. Many people in the organization today are in the wrong jobs and as a result, they are not utilizing their full potential.
3. Hiring people based on personal connections when the person is not qualified for the job.
4. Most recruitment that involves managers is done during discussions at lunch hour, at social clubs or during the coffee break time.
5. Inadequate recruitment procedures resulted in a number of staff not being sufficiently qualified either for the positions they hold or their grades levels, especially in management positions.
6. Psychometric test is not conducted during the selection process.
7. Confusion in the designation and level to the employees even after permanent status for employment is given.
8. Proper training is not given to the recruitment team and manager.
9. Reaching few prospects due to internal recruitment, internet advertising most of the time.

1. Psychometric tests have to be conducted to assessing the personality of the applicants – will they fit in?
2. Look for different skills as well as the ideas of the candidate at the time of recruitment and selection process.
3. Adopting adequate recruitment procedures to employ efficient and talented people.
4. Job responsibilities have to be clearly explained to the candidate before the joining formality is done.
5. Campus recruitments, job fairs may attract more skilled and talented employees towards the organization.
6. Provide orientation training to all new employees before their initial work assignments and to all current employees who receive a different task or job.
7. Referral scheme has to be encouraged more at times when the requirement is urgent.

Recruitment is essential to effective Human Resources Management. It is the heart of the whole HR systems in the organization. The effectiveness of many other HR activities, such as selection and training depends largely on the quality of new employees attracted through the recruitment the recruitment process.
Policies should always be reviewed as these are affected by the changing environment. Management should get specific training on the process of recruitment to increase their awareness on the dangers of wrong placements.
Effective recruitment is important in achieving high organizational performance and minimizing labor turnover. As of now HDFC Bank Ltd. has a team of effective human resource which is efficiently managing the organization at its best. Though the recruitment process adopted by the organization needs to be improved, challenges are ahead for the HR Department to recruit people after the effect of recession.

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