Regd. Office: HDFC House, 2nd Floor, H.T.

Parekh Marg, 165-166, Backbay Reclamation,

Churchgate, Mumbai - 400 020. Phone: 022 66316333 • Toll Free Nos: 1800-3010-6767 / 1800-419-
7676 • e-mail: hello@hdfcfund.com • Visit us at: www.hdfcfund.com

ADDENDUM TO THE SCHEME INFORMATION DOCUMENTS (SIDs) / KEY INFORMATION

MEMORANDUMS (KIMs) OF ALL SCHEMES / STATEMENT OF ADDITIONAL INFORMATION
(SAI) OF HDFC MUTUAL FUND

We refer to our Notice-cum-Addendum dated May 12, 2023 informing the Unitholders about the
proposed change in control of HDFC Asset Management Company Limited (“HDFC AMC”) and change
in Sponsor of HDFC Mutual Fund on account of the proposed merger inter alia of Housing Development
Finance Corporation Limited (“HDFC Limited”) with and into HDFC Bank. Further to the same, HDFC
Limited) and HDFC Bank Limited (“HDFC Bank / the Bank”) have now announced the effective date
of the merger as July 1, 2023.

Consequently, HDFC Limited. has ceased to be the Sponsor and HDFC Bank has become the Sponsor
of HDFC Mutual Fund with effect from July 1, 2023 (Effective Date).

Further, the information about the Sponsor in SAI / SID / KIM (as applicable) shall stand updated from
the Effective Date as follows:

I. Information in SAI

A. Section – Information about the Sponsor

HDFC Bank is one of India’s leading private banks and was among the first to receive approval from
the Reserve Bank of India (RBI) to set up a private sector bank in 1994.

As of March 31, 2023, the Bank had a nationwide distribution network of 7,821 branches and 19,727
ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 3,811 cities / towns.

HDFC Bank caters to a wide range of banking services covering commercial and investment banking
on the wholesale side and transactional / branch banking on the retail side. The bank has three key
business segments:

Wholesale Banking

This business focuses on institutional customers such as Large corporates including MNCs,
Government bodies, Emerging corporates, Business banking/SMEs, Infrastructure finance group. The
Bank is recognised as a leading provider of cash management and transactional banking solutions to
corporate customers, mutual funds, stock exchange members and banks.

Products and Services: Working capital facilities, Term lending, Project finance, Debt capital markets,
Mergers and acquisitions, Trade credit, Supply chain financing, Forex and derivatives, Cash
management services, Wholesale deposits, Letters of credit and guarantees, Custodial services,
Correspondent banking.

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Treasury

Within this business, the bank has three main product areas - Foreign Exchange and Derivatives, Local
Currency Money Market & Debt Securities, and Equities. To comply with statutory reserve
requirements, the bank is required to hold 25% of its deposits in government securities. The Treasury
business is responsible for managing the returns and market risk on this investment portfolio.

Products and Services: Foreign exchange & derivatives, Solutions on hedging strategies, Trade
solutions - domestic and cross border, Bullion, Debt capital markets, Equities, Research - Reports &
commentary on markets and currencies, Asset liability management, Statutory reserve.

Retail Banking

The objective of the Retail Bank is to provide its target market customers a full range of financial
products and banking services, giving the customer a one-stop window for all his/her banking
requirements.

The Bank has a wide array of retail loan products including Auto Loans, Loans against marketable
securities, Personal Loans and Loans for Two-wheelers. It is also a leading provider of Depository
Participant (DP) services for retail customers, providing customers the facility to hold their investments
in electronic form. Its products and services include, Investment Advisory Services programs,
distribution of mutual funds, life, general and health insurance and Healthcare finance.

HDFC Bank was the first bank in India to launch an International Debit Card in association with VISA
(VISA Electron) and issues the MasterCard Maestro debit card as well. The Bank launched its credit
card business in late 2001. By March 2015, the bank had a total card base (debit and credit cards) of
over 25 million. The Bank is also one of the leading players in the "merchant acquiring" business with
over 235,000 Point-of-sale (POS) terminals for debit / credit cards acceptance at merchant
establishments. The Bank is well positioned as a leader in various net based B2C opportunities
including a wide range of internet banking services for Fixed Deposits, Loans, Bill Payments, etc.

Financial Performance of the Sponsor for the past 3 years: (Rs. in crore)

Particulars FY 22-23 FY 21-22 FY 20-21

Net worth 273,063.04 233,613.81 198,601.03
Total Income 192,800.36 157,263.02 1,46,063.12
Profit after Tax 44,108.70 36,961.36 31,116.52
Assets under Management NA NA NA

II. Information in SID

PENALTIES, PENDING LITIGATION OR PROCEEDINGS, FINDINGS OF INSPECTIONS OR

INVESTIGATIONS FOR WHICH ACTION MAY HAVE BEEN TAKEN OR IS IN THE PROCESS OF
BEING TAKEN BY ANY REGULATORY AUTHORITY

1. In case of Indian Sponsor(s), details of all monetary penalties imposed and/or action taken during
the last three years or pending with any financial regulatory body or governmental authority, against
Sponsor(s) and/or the AMC and/or the Board of Trustees/Trustee Company; for irregularities or for
violations in the financial services sector, or for defaults with respect to share holders or debenture

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holders and depositors, or for economic offences, or for violation of securities law. Details of settlement,
if any, arrived at with the aforesaid authorities during the last three years shall also be disclosed.

1) Reserve Bank of India (RBI) by an order dated May 27, 2021, levied a penalty of Rs. 10 cores
(Rupees ten crores only) for marketing and sale of third-party non-financial products to HDFC Bank’s
auto loan customers, arising from a whistle blower complaint, which revealed, inter alia, contravention
of Section 6(2) and Section 8 of the Banking Regulation Act, 1949. The Bank has discontinued the sale
of said third-party non-financial product since October 2019. The penalty was paid by the Bank.

2) SEBI issued final order on January 21, 2021, levying a penalty of Rs. 1 crore on the Bank, in the
matter of invocation of securities pledged by BMA Wealth Creators (BRH Wealth Kreators) for availing
credit facilities. SEBI also directed the Bank to transfer sale proceeds of Rs. 158.68 crores on invocation
of securities, along with interest to escrow account with a nationalised bank by marking lien in favour
of SEBI. The Bank challenged SEBI's order before SAT and SAT, vide its interim order, stayed
operation of SEBI’s order. SAT, vide its final order dated February 18, 2022, allowed the Bank’s appeal
and quashed SEBI’s Order.

3) RBI issued an Order dated December 02, 2020 (“Order”) to HDFC Bank Limited (the “Bank”) with
regard to certain incidents of outages in the internet banking/mobile banking/ payment utilities of the
Bank over the past 2 years, including the outages in the Bank’s internet banking and payment system
on November 21, 2020 due to a power failure in the primary data centre. RBI, vide above order, advised
the Bank (a) to stop all digital business generating activities planned under its ‘Digital 2.0’ and proposed
Business generating applications digital also imposed restrictions and (b) to stop sourcing of new credit
card customers. The Bank initiated remedial activities including fixing of staff accountability and the
same were communicated to the RBI. Basis the Bank’s submission, RBI vide its letter dated August 17,
2021, relaxed the restriction placed on sourcing of new credit cards customers and further vide its letter
dated March 11, 2022 lifted the restrictions on the business generating activities planned under the
Bank’s Digital 2.0 program.

2. Details of all enforcement actions (including the details of violation, if any) taken by SEBI in the last
three years and/or pending with SEBI for the violation of SEBI Act, 1992 and Rules and Regulations
framed there under including debarment and/or suspension and/or cancellation and/ or imposition of
monetary penalty/adjudication/enquiry proceedings, if any, to which the Sponsor(s) and/or the AMC
and/or the Board of Trustees/Trustee Company and/or any of the directors and/or key personnel
(especially the fund managers) of the AMC and Trustee Company were/are a party.

Same as point 2 above.

Information relating to names of associates of Sponsor, change in share holding pattern etc. shall be
updated in due course of time.

All other information in SAI / SID & KIMs shall remain unchanged.

This addendum shall form an integral part of the SIDs / KIMs / SAI, as amended from time to time.

This Addendum is dated July 01, 2023.

MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME
RELATED DOCUMENTS CAREFULLY.

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