Tata Consultancy Services remained the most valued brand across India in 2023. This means it had the highest reputation as a company, and was valued at over 42 billion U.S. dollars that year. HDFC followed with over 33 billion dollars-worth in brand value. The 10 most valuable brands in India that year was mainly constituted by tech corporations, banks, and telecom companies.
HDFC Bank Limited
The Housing Development Finance Corporation (HDFC), headquartered in the city of Mumbai was one of the largest private sector lenders in the country as of March 2019. In 2018, it was one of the leading regional bank brands worldwide. Set up in 1994, its office was inaugurated by former Prime Minister and then Union Finance Minister Manmohan Singh. With branches across the country and abroad, HDFC was one of the newer banks to be established.
Private sector banks in India
All major Indian banks were nationalized by the government in 1969. However, with a change in government policy in the 1990s that made way for globalization and increasing foreign investment, the private sector was split by regulators into old and new banks. The very first bank in this sector, founded in 1899, was Nendungadi Bank in Calicut or Kozhikode, Kerala.
Since 2014, as part of the central government’s inclusion program for affordable access and expansion to financial services, private sector banks have accepted over one million recipients as of February 2019, the largest being ICICI Bank with over 436 thousand.
