[6-K] HDFC BANK LTD Current Report (Foreign Issuer)

Rhea-AI Filing Summary

HDFC Bank Limited reported that India Ratings and Research Private Limited assigned and affirmed strong credit ratings on several of its instruments on March 17, 2026. The issuer rating was affirmed at IND AAA/Stable, indicating the agency’s highest long-term credit quality assessment.

The agency assigned and affirmed short-term ratings of IND A1+ on certificates of deposit totaling INR 250 billion (assigned) and INR 1250 billion (affirmed). Fixed deposits, infrastructure bonds of INR 200 billion, and Basel-III compliant Tier 2 bonds of INR 250 billion were all affirmed at IND AAA/Stable, while Basel-III compliant Tier 1 bonds of INR 150 billion were affirmed at IND AA+/Stable.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under the

Securities Exchange Act of 1934

For the month of March, 2026

Commission File Number 001-15216

HDFC BANK LIMITED

(Translation of registrant’s name into English)

HDFC Bank House, Senapati Bapat Marg,

Lower Parel, Mumbai. 400 013, India

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒    Form 40-F ☐

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

				HDFC BANK LIMITED
				(Registrant)
Date: March 18, 2026				By:		/s/ Ajay Agarwal
				Name:  Ajay Agarwal
				Title:   Company Secretary
				Group Head – Secretarial & Group Oversight

EXHIBIT INDEX

The following documents (bearing the exhibit number listed below) are furnished herewith and are made a part of this report pursuant to the General Instructions for Form 6-K.

Exhibit No. 99

Description

Intimation of Credit Rating by India Ratings and Research Private Limited

Exhibit 99

March 18, 2026

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sir,

Sub: Intimation of Credit Rating by India Ratings and Research Private Limited

We wish to inform that India Ratings and Research Private Limited has assigned/affirmed the ratings to various instruments of the Bank on March 17, 2026. The summary of the ratings assigned/affirmed is given below.

Instrument Type		Maturity Date		Size of Issue (Billion)		Rating/Outlook		Rating Action
Issuer Rating				-		IND AAA/Stable		Affirmed
Certificates of deposit		7-365 days		INR 250		IND A1+		Assigned
Certificates of deposit		7-365 days		INR 1250		IND A1+		Affirmed
Fixed deposits				-		IND AAA/Stable		Affirmed
Infrastructure bonds				INR 200		IND AAA/Stable		Affirmed
Basel-III compliant Tier 2 bonds				INR 250		IND AAA/Stable		Affirmed
Basel-III compliant Tier 1 bonds				INR 150		IND AA+/Stable		Affirmed

This is for your information and appropriate dissemination.

Yours faithfully,

For HDFC Bank Limited

Sd/-

Ajay Agarwal

Company Secretary

Group Head – Secretarial & Group Oversight

FAQ

What credit rating did India Ratings assign to HDFC Bank (HDB) as an issuer?

India Ratings affirmed HDFC Bank’s issuer rating at IND AAA/Stable. This is the agency’s highest long-term rating, reflecting very strong creditworthiness and low default risk for the bank under current conditions.

How were HDFC Bank (HDB) certificates of deposit rated by India Ratings?

Certificates of deposit received IND A1+ ratings from India Ratings. The agency assigned IND A1+ to INR 250 billion of new certificates and affirmed IND A1+ on INR 1250 billion of existing certificates with maturities from 7 to 365 days.

What ratings did HDFC Bank (HDB) fixed and infrastructure deposits receive?

Fixed deposits and infrastructure bonds were affirmed at IND AAA/Stable. India Ratings kept these long-term instruments at its top rating level, indicating very strong protection factors and minimal credit risk as assessed on March 17, 2026.

How did India Ratings evaluate HDFC Bank (HDB) Basel-III Tier 2 bonds?

Basel-III compliant Tier 2 bonds of INR 250 billion were affirmed at IND AAA/Stable. This means India Ratings considers these subordinated instruments to have very strong credit quality consistent with HDFC Bank’s overall top-tier profile.

What rating did HDFC Bank (HDB) Basel-III Tier 1 bonds receive?

Basel-III compliant Tier 1 bonds of INR 150 billion were affirmed at IND AA+/Stable. This is one notch below IND AAA, reflecting very strong credit quality for these higher-risk, loss-absorbing capital instruments.

When were HDFC Bank (HDB) ratings affirmed by India Ratings?

India Ratings assigned and affirmed the ratings on March 17, 2026. HDFC Bank subsequently informed the New York Stock Exchange on March 18, 2026, providing a detailed summary of the ratings across its major funding instruments.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99 EX-99 15.4 KB