2023 2024 EduVark > Education Discussion > Banks Related


  #1  
January 15th, 2018, 11:25 AM
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HDFC Bank FBAR

What do you mean by FBAR in HDFC Bank reference so would you plz let me know about the same , as my one of the friend asking me for it ??
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  #2  
January 15th, 2018, 11:26 AM
Super Moderator
 
Join Date: Mar 2012
Re: HDFC Bank FBAR

HDFC (Housing Development Financial Corporation) Bank Limited is an Indian banking and financial services company headquartered in Mumbai, Maharashtra.

As you asking here I am telling FBAR stands for Foreign Bank Account Report, and refers to TD F90-22.1 Report of Foreign Bank and Financial Accounts. In mid-2013, the form was renamed, and is now called FinCEN 114.The FBAR was devised as part of the Bank Secrecy Act of 1970 as a means to discourage and prevent tax evasion .

Bank profile:


Type Public

Traded as BSE: 500180

NSE: HDFCBANK

NYSE: HDB

BSE SENSEX Constituent

CNX Nifty Constituent

Industry Banking, Financial services

Founded August 1994

Headquarters Mumbai, Maharashtra, India

Area served India

Key people Aditya puri (MD)

Products Credit cards, consumer banking, corporate banking, finance and
insurance, investment banking, mortgage loans, private banking, private equity, wealth management

Revenue 74,373 crore (US$12 billion) (2016)

Profit 12,817 crore (US$2.0 billion) (2016)

Total assets 86,384,021 lakh (US$130 billion) (2016)

Number of employees 84,325 (March 2017)


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