HDFC Bank launched a unique scholarship scheme for school children

HDFC Bank leading private bank in India has launched a scheme “HDFC Bank Meritus scholarship”. The scheme is first of its kind related to education program. The aim of the scheme is to cover students of class 4 to 9 across the country and to shortlist the best 5000 students for an educational scholarships amounting to Rs 1.5 crore per year using various academic and non- curricular criteria. Bank has launched this program in alliance with Horlicks.

The HDFC Bank Meritus Scholarship programme is a motivating program, which look for rewarding all-round excellence among students and help add to their overall development. The awardees from all over the country would receive a scholarship ranging from Rs.2, 500 to Rs.10 Lakh.

Publicizing this first of its kind scholarship program, Group Head, HDFC Bank Rahul Bhagat, notified, “This initiative emphasizes the values our Bank stands for. It is a small contribution we are making towards the nation by facilitating young India in its quest for excellence. We are confident we’ll play the role of mentors to these bright children for years to come, and help them create an India that is better, more educated, and, more prosperous.”

Parents have to fill in the registration form available in respective schools to get their wards registered in the scheme. Otherwise, one can also register online by visiting the bank website www.hdfcbank.com/meritus. The last date is February 22, 2009 for submitting the registration form. One can see all the details of the program on the bank website.

To be eligible for the scholarship, registered students have to undertake four rounds of tests - two telephonic and two written, over a period of 16 weeks. To certain the full involvement of the parents in the overall progress of their child, the first two participation rounds will be conducted via telephone through an Interactive Voice Recording (IVR) system. Parents can help their children while taking the IVR test and help them get to the final rounds and in the final round the student has to give a written test. The questions prepared will be largely picked from the existing curriculum so that this program helps them in preparing for their school exams too.

Bank will select the final 5000 awardees on the bases of the final round scores, extra-curricular achievements and academics. To make the selection of scholarship awardees completely fair, an independent panel of qualified judges will select the scholarship awardees.

HDFC bank from India the biggest gainer among top 500 financial brands

Indian banks have positioned itself amongst the world’s top 500 financial brands amidst the tight financial crisis. Around 19 Indian banks have positioned themselves especially at the time when global financial brands staggered due to tight financial crisis. In terms of brand value the top 500 banks lost around $218.1 billion (about Rs10.8 trillion) which means a 32 percent drop over the past year, while their market capitalization slumped by 51 percent to $3.9 trillion.

In comparison to the previous year's list around 209 banks have been out positioned as they became victim of the recession in U.S., Europe and Japan. From India HDFC Bank had turned out to be the biggest gainer. According to the Economic Times HDFC bank brand value rose by $243 million from 2007 to $611 million in 2008, and it positioned to 151 in the league table in 2008 from 236 in 2007. "Emerging market brands have significantly outperformed world brands in 2008. Many of the best known developed world banks have died in 2008. Some are walking dead awaiting a silver bullet before they finally go. Governments hold the gun," said David Haigh, CEO of Brand Finance. Axis Bank has positioned itself at the 267 position while Kotak Mahindra Bank occupied 278 positions. However, State Bank of India (SBI) has been ranked 69 in the latest survey; it has come down from 60 a year earlier, with a brand value of $1.44 billion, down from $2.852 billion. SBI slipped down because its market capitalization fell to $9.83 billion from $12 billion.

Besides them 13 new public sector banks from have made entry including Punjab National Bank, Bank of India, Canara Bank, Bank of Baroda, Union Bank of India, Indian Overseas Bank, Indian Bank, Power Finance Corporation, Oriental Bank of Commerce and Syndicate Bank. The list also includes the three associate banks of SBI viz. State Bank of Hyderabad, State Bank of Patiala and State Bank of Bikaner & Jaipur. While in the previous year, only six Indian banks could make in Brand Finance's list.

The rankings were provided by the Brand Finance along with The Banker magazine. The rankings were used through a discounted cash flow (DCF) technique to discount estimated future royalties, at an appropriate discount rate, to arrive at a net present value (NPV) of the trademark and associated intellectual property: the brand value.

Man behind HDFC Bank incredible growth- HDFC’s Aditya Puri

The Indian Inc had go through very tough time in the year 2008 with major economies in recession. The inflation was at peak and Sensex had dipped, for many it made difficult to sustain. Only few were able to keep up with situation.

HDFC Bank was the only bank to be able to show steady growth, while some of its competitors got trapped in the sub prime mess. The bank continued its climb high.

In the third quarter the bank demonstrated a 45 per cent jump in its profits, incredible when banks around the world were thawing out.

The credit for this great growth story goes to one man who is CNN-IBN Indian of the Year – Business, Aditya Puri, and the Managing Director of HDFC Bank.

Under his guidance, HDFC bank has developed into one of the biggest private banks with over 1.2 million customers.

HDFC Bank is having the largest branch network of over 1,400 among all private sector banks - thanks to the smooth acquirement of Centurion Bank of Punjab.

Aditya Puri while in process of making his bank into world class one, carefully managed risks even though being called a conservative sometimes.

His insight is being praised today with the global economy in chaos. Amid 2009 is also expected to be a difficult year for businesses worldwide, the industry will be looking at Puri for leadership.

HDFC bank tie-up with Movie Mart offers up to 50% discount to credit card holders

HDFC Bank credit card holders get to enjoy up to 50 per cent discounts on Movie Mart’s subscription plans. The offer is being given by online DVD rental portal Movie Mart which has tied-up with the HDFC bank.

Under this offer all HDFC card holders will be able to enjoy 10% off on monthly, 20% on quarterly, 30% on half yearly and 50% discount on yearly subscriptions.

MovieMart CEO Rahul Mansharmani notified, "We are happy to be associated with HDFC and their loyal customers, I can assure that all the card holders would be very pleased by what MovieMart is offering them. I would also like to add here that partnering with HDFC would give many more movie lovers an opportunity to try our services and experience the difference."

The offer is available on Movie Mart’s websites and the HDFC members can log on the site and select from plans that range between Rs 279 - 1199. Under this offer security deposits have also been removed from all membership plans therefore the customer will be able to keep the DVDs for a longer period without the late fee charges.