HDFCBank: Official Corporate Blog on Fifth Year in a Row

Dear Customers,

Your valuable feedbacks and contributions, and our continuous efforts in serving you better have yielded rewarding results. Quite literally!

Your bank has been awarded the “The Best Bank – India” by the Business Today and KPMG survey for the fifth consecutive year.

Indian economy is growing and at a very fast pace. Banking sector has been contributing to this growth notably. Majority of banks have shown significant growth in the last 3 years and this year the speed of growth has been tremendous. It's an immense pleasure to know that we beat 76 able competitors to emerge as the leader in the banking sector.

Business Today in its latest issue quotes..."It (HDFC Bank) is also gaining market share in private banking, retail banking, credit cards and most of the other verticals it is present in. And it is doing this without really breaking into a sweat. This is just one of the reasons why it has retained its top position in the Business Today-KPMG Best Bank Survey for the fifth consecutive year."

For the full story read the BT February 24, 2008 issue or go to
http://businesstoday.digitalto
day.in/indias-best-banks-2.html

We are very happy to be ranked as “The Best Bank”, but all this would not have been possible without you - our customers, our investors and stake holders. Your constant support and trust in our team has made us work hard towards our goal of becoming the No. 1 private bank in India. These awards boost our spirits to go ahead and achieve a notch higher in our performance.

Once again thanks to you all, for standing beside us as pillars of strength. We assure you we will serve you better and deliver better than your expectations.

Best regards,

Neeraj Jha
Head – Corporate Communications

Comments on this post (31)

Not sure of that
By: hakoonamatata | Feb 13, 2008 07:45 PM (Updated Feb 13, 2008 09:12 PM)

I have had plenty of trouble in getting my ATM/Debit card replaced from the ’’Best Bank’’. I don’t want to post details here, but personally am not in a mood to believe Business Today and KPMG’s rating. Of course, the rating is relative. I understand that.

You can buy anything even a ''best bank'' rating
By: benhur1278 | Feb 13, 2008 11:45 PM (Updated Feb 14, 2008 03:47 PM)

Business Today would have rated HDFC coz they would have given them more ads. It is as simple as this. What credibility does Business Today have to rate a bank. Some years ago they rated a bank with only a hand full of branches in the country as the best bank, in course of time BT fell out with this group and then regretted declaring them No. 1. It is very evident that this is all media manipulation. I wish to remind the manipulators that All the people can be fooled some of the time, and some people can be fooled all the time, but all the people cannot be fooled all the time. With disgruntled/overworked staff on the other side of the counter, what service are you talking about. Why sir you did not have the courtesy to reply to my registered letters and you are again talking about quality. Dont blow your own trumpet, translate all your empty talks to actions. The neighbourhood pawn broker is a more considerate man than you swindlers who do daylight robbery and fleece hapless customers.

Complacence is ruining HDFC
By: debadideb | Feb 14, 2008 12:20 AM (Updated Feb 14, 2008 09:11 AM)

I have been a customer of HDFC Bank for over 7 years now. Till recently, I used to brag about its service quality. The shorter working hours and higher service charges were justified by the great quality of customer service. But over the last year I have seen drastic degradation in quality of staff and service offered by them. Looks like you are hiring ex-ICICI Bank people!!!

Some examples to prove my point:
1) It took HDFC Bank full two months to activate the facility to invest in mutual funds through NetBanking in spite of no problems with my application.
2) Insta Alerts do not work since they have been made free of charge, except when the minimum balance falls short. When I wrote to complain about this, I got a reply that my savings account was being closed down!!! (Of course, when asked to clarify why my account needs to be closed for the service to work, they regretted the mistake.)

And I could go on...

If you want to hold on to the respect that you used command, focus on the customer as much as you do on increasing your profits by hiking charges and employing substandard ’cheap’ personnel.

People like me have already diversified into other banks who are bending over backwards to get business.

On second thoughts.....
By: hakoonamatata | Feb 14, 2008 12:54 PM (Updated Feb 14, 2008 12:56 PM)

I stand by my dissatisfaction with HDFC back, as stated in my earlier comment, but, I also appreciate HDFC bank’s courage to be a part of MS Corporate Blog.Disgruntled customers are always more expressive than satisfied ones, hence you need courage to be here. There is certainly light at the end of the tunnel, but a long tunnel to cross.

“The Best Bank – India”
By: Gforce | Feb 14, 2008 03:30 PM

Surprisingly I agree but with a very sarcastic tone if voiced.

I second you hakoonamatata ...
By: debadideb | Feb 14, 2008 05:35 PM

Yes Hakoonamatata, I completely agree with you and applaud HDFC Bank’s courage to have it’s dirty linen washed in public. Actually that would have happened anyway, thanks to forums like Mouthshut, but atleast they are open to treating this space as formal feedback, as against many others who are quietly ignoring it. Let us see if they act on this feedback too.

Good to Great
By: Tester | Feb 15, 2008 09:59 PM

I think HDFC should be lauded for this bold move. In the book GOOD TO GREAT, they talk about companies that do not hide their problems or cover them under the proverbial rug. They boldly embrace the knowledge of their shortcomings because that is how you fix it.

Mr. Jha, you’re the face of the New Bold India and its business enterprises. Congratulations. I am going to direct my relatives to do business with your company!

good bank but lacks commitments
By: gopionline | Feb 18, 2008 09:43 AM

Good bank but their phone banking is a bit dissapointing, they either don’t know about their own service or they act like dumb people. I happen to open an current account along with my salaried account, and after a week I tried to call them, The answer I got from them was that they are really not aware of any current account oppening, why can’t they see it in they network, No they said, it can be said only on Bank visit, then why call them when we can do everything by visiting a branch..... finally I got my current account after 10 days when initially they told me it would be done in 2 or 3 working days.

So they lack some commitments

is it a sign of ''The Best Bank''?
By: RahulVB | Feb 18, 2008 02:24 PM (Updated Feb 18, 2008 02:32 PM)

I wanted a demand Draft for my exam and I went to HDFC Branch ....And guess what HDFC does not issue DRAFT for CASH. There people ask me to go from One desk to another and at last I went to Manager and Manager said ’’Ohh sorry we do not issue Demand Draft for CASH ,Issue of DD is only by cheque. Ah.... Though I am Customer of HDFC Bank I did not carrying chequebook with me and it is not require carrying check book all the time!!! SO at last I WENT our Nationalized bank paid RS 30/- as exchange and got the Demand Draft.

Best wishes
By: avinash.murkute | Feb 18, 2008 04:08 PM

Hi Mr. Neeraj,

Good to see you on this forum. It seems that you have an ear to ground. I wish even a whisper should be heard at HDFC Bank.

Best wishes,
Avinash

Dear Benhur
By:

HDFCBank | Feb 20, 2008 10:58 AM (Updated Feb 20, 2008 11:02 AM)

I would like to tell you that we are equally pained as you are, to read what you have written, especially about our awards. And for God’s sake, even if you are terribly upset, please do not say that the awards we won have been bought! We are in the business of banking, and certainly none other!

Reading your blog, I can well understand your sentiments and the anger you felt which prompted you to vent your disappointment. Had I been in your position, I would have, perhaps, done the same thing. It is rather unfortunate to know that you have had a bad experience banking with us, and that our services did not meet your expectations. Having said that, please understand that while we are terribly upset at what has happened, we are also concerned and would like to get in touch with you and sort out the issue. So please give us another opportunity and help us to help you. Do let me have your number where I can telephone you.

I look forward to your response.

Best regards
Neeraj Jha
Head – Corporate Communications
HDFC Bank

Awards by KPMG,5th Yr? On what grounds- Part-1
By: prasad_madhira | Feb 20, 2008 04:57 PM

It is a matter of pride that our country provides congenial environment & opportunities to create great institutions even withou

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