Press Release

2007

NIIT IFBI & HDFC Bank Announce Strategic Alliance

- Unique partnership to create job opportunities for IFBI’s PGDBO students

New Delhi, October 10, 2007: The Institute of Finance, Banking and Insurance (IFBI) and HDFC Bank have entered into a partnership to develop and train students in the field of Banking. Selected students of IFBI would join HDFC Bank as ‘Trainees’ immediately upon completion of the institute’s 6-month Post-Graduate Diploma in Banking Operations (PGDBO) program.

Under the terms of the partnership, HDFC Bank would make an offer of employment to identified students of IFBI at the time of their admission to the PGDBO program. Such students would complete the Internship component of their PGDBO program at HDFC Bank, and get employed, post successful completion of the requirements.

The Institute of Finance, Banking and Insurance is an initiative of NIIT Ltd, Asia’s No. 1 trainer and leading Global Talent Development Corporation, to develop talent for the burgeoning Financial Services sector.

According to Mrs. Mandeep Maitra, Country Head-HR, HDFC Bank, “As a bank we have always believed in investing in the development of young talent, thereby creating a pool of trained resources which would benefit the banking industry and community as a whole. I am delighted about this partnership with NIIT’s IFBI which is a step towards the bank’s commitment to this cause.”

Dr. Smarajit Dey, President-Strategic Initiatives, NIIT, said, “We are delighted to have HDFC Bank as IFBI’s strategic partner. This partnership reflects the universal acceptance that IFBI’s programs have received. With the participation of both HDFC and ICICI Banks in IFBI’s academic programs, our efforts to develop talent for the industry are strengthened, and we continue to provide our students a broader and richer experience.”

Students desirous of building a career in one of the leading banks in India, the HDFC Bank, need to meet the eligibility criteria of at least 55% marks, consistently, up to Graduation, and successfully undertake IFBI’s PGDBO selection process, consisting of an aptitude test (IFBI’s Common Entrance Test, I-CET), and an interview, jointly conducted by IFBI and HDFC Bank. Successful candidates will be offered admission to the 6-month full-time PGDBO program, along with an offer letter from HDFC Bank.

IFBI already has a tie-up with ICICI Bank for recruitment of its PGDBO students selected at the time of admission, and more than 1000 graduates have already joined under this scheme, while another 1000 are currently completing their training prior to employment.

With the Banking industry estimated to add 6 lakh more professionals in the next 4-5 years, and equally large manpower requirements in the Insurance industry, IFBI is currently rapidly expanding its reach and portfolio to cater to these talent-development needs.

Within one year of its operations, IFBI is already addressing the training needs of four large financial institutions in the country. The institute has expanded operations by starting new centres in Ahmedabad, Pune, Gurgaon, Bhubaneswar and Nagpur, in addition to its existing centres at Delhi, Mumbai, Bangalore, Chennai, Hyderabad and Kolkata, taking the total tally to 12 centres, across the country.

About HDFC Bank:

HDFC Bank was incorporated in August 1994, and, as of March 31, 2007, has a nationwide network of 684 branches and 1605 ATM's in 316 Indian towns and cities. HDFC Bank began operations in 1995 with a simple mission: to be a "World-class Indian Bank". Today, we are proud to say that we are well on our way towards that goal.

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.

We consistently benchmark 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 reputation and awards speak for itself and we are proud that we are achieving what we initially set out to do.