-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001145549-02-000189.txt : 20020801
<SEC-HEADER>0001145549-02-000189.hdr.sgml : 20020801
<ACCEPTANCE-DATETIME>20020801084536
ACCESSION NUMBER:		0001145549-02-000189
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20020801
GROUP MEMBERS:		BOARD OF COMMISSIONERS OF CURRENCY, SINGAPORE
GROUP MEMBERS:		GOVERNMENT OF SINGAPORE
GROUP MEMBERS:		MONETARY AUTHORITY OF SINGAPORE

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HDFC BANK LTD
		CENTRAL INDEX KEY:			0001144967
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-78061
		FILM NUMBER:		02716699

	BUSINESS ADDRESS:	
		STREET 1:		SANDOZ HOUSE, DR ANNIE BESANT RD
		STREET 2:		WORLI MUMBAI INDIA
		CITY:			INDIA
		STATE:			K7
		ZIP:			00000
		BUSINESS PHONE:		91224957676

	MAIL ADDRESS:	
		STREET 1:		KAMAIA MILLS COMPOUND
		STREET 2:		SENAPAIT BAPAT MARG, LOWER PAREL
		CITY:			MUMBAI INDIA
		STATE:			K7
		ZIP:			00000

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GOVERNMENT OF SINGAPORE INVESTMENT CORP PTE LTD ET AL
		CENTRAL INDEX KEY:			0000936828
		STATE OF INCORPORATION:			U0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		250 NORTH BRIDGE ROAD
		STREET 2:		33 00 RAFFLES CITY TOWER 0617
		CITY:			SINGAPORE
		STATE:			U0

	MAIL ADDRESS:	
		STREET 1:		333 BUSH STREET
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94104
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>u91987sc13g.txt
<DESCRIPTION>GOVERNMENT OF SINGAPORE INVESTMENT CORPORATION PTE
<TEXT>
<PAGE>
================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

- --------------------------------------------------------------------------------

                                  SCHEDULE 13G
                                 (RULE 13d-102)

        INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES
      13d-1(b), (c) and (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2

                       (Amendment No.             )(1)
                                     -------------

                                 HDFC BANK LTD
            ----------------------------------------------------------
                                (Name of Issuer)

                                  EQUITY SHARES
            ----------------------------------------------------------
                         (Title of Class of Securities)

                                   40415F101(2)
            ----------------------------------------------------------
                                 (CUSIP Number)

                                    23 JULY 02
            ----------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
                               [ ]    Rule 13d-1 (b)

                               [X]    Rule 13d-1 (c)

                               [ ]    Rule 13d-1 (d)

- ----------
(1)  The remainder of this cover page shall be filled out for a reporting
     person's initial filing on this form with respect to the subject class of
     securities, and for any subsequent amendment containing information which
     would alter the disclosures provided in a prior cover page.

(2)  This Schedule 13G relates to ownership of equity shares which are not
     publicly traded in the United States.  The CUSIP number for the American
     Depositary Shares, each representing three equity share, is 40415F101.

The information required in the remainder of this cover shall not be deemed to
be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934
or otherwise subject to the liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however, see the Notes).

================================================================================

<PAGE>
Schedule 13G                         Forms
- --------------------------------------------------------------------------------

- ------------------------                                 -----------------------
 CUSIP NO. 40415F101                  13G                  Page 2 of 9 Pages
          ------------                                         ---  ---
- ------------------------                                 -----------------------

- --------------------------------------------------------------------------------
1.      NAME OF REPORTING PERSONS
        I.R.S IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
        GOVERNMENT OF SINGAPORE INVESTMENT CORPORATION PTE LTD
        (NONE)
- --------------------------------------------------------------------------------
2.      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*            (a) [ ]

                                                                     (b) [X]
- --------------------------------------------------------------------------------
3.      SEC USE ONLY

- --------------------------------------------------------------------------------
4.      CITIZENSHIP OR PLACE OF ORGANIZATION
        SINGAPORE
- --------------------------------------------------------------------------------
NUMBER OF SHARES        5.  SOLE VOTING POWER                    0
BENEFICIALLY OWNED      --------------------------------------------------------
BY EACH REPORTING       6.  SHARED VOTING POWER                  17,824,862
PERSON WITH             --------------------------------------------------------
                        7.  SOLE DISPOSITIVE POWER               0
                        --------------------------------------------------------
                        8.  SHARED DISPOSITIVE POWER             17,824,862
- --------------------------------------------------------------------------------
9.      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
        17,824,862
- --------------------------------------------------------------------------------
10.     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
        SHARES*                                                           [  ]
- --------------------------------------------------------------------------------
11.     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
        6.32%
- --------------------------------------------------------------------------------
12.     TYPE OF REPORTING PERSON*
        OO
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILING OUT!

<PAGE>
Schedule 13G                         Forms
- --------------------------------------------------------------------------------

- ------------------------                                 -----------------------
 CUSIP NO. 40415F101                  13G                  Page 3 of 9 Pages
          ------------                                         ---  ---
- ------------------------                                 -----------------------

- --------------------------------------------------------------------------------
1.      NAME OF REPORTING PERSONS
        I.R.S IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
        GOVERNMENT OF SINGAPORE
        (NONE)
- --------------------------------------------------------------------------------
2.      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a)  [ ]

                                                                  (b)  [X]
- --------------------------------------------------------------------------------
3.      SEC USE ONLY
- --------------------------------------------------------------------------------
4.      CITIZENSHIP OR PLACE OF ORGANIZATION
        SINGAPORE
- --------------------------------------------------------------------------------
NUMBER OF SHARES         5.  SOLE VOTING POWER           0
BENEFICIALLY OWNED       -------------------------------------------------------
BY EACH REPORTING        6.  SHARED VOTING POWER         13,386,841
PERSON WITH              -------------------------------------------------------
                         7.  SOLE DISPOSITIVE POWER      0
                         -------------------------------------------------------
                         8.  SHARED DISPOSITIVE POWER    13,386,841
- --------------------------------------------------------------------------------
9.      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
        13,386,841
- --------------------------------------------------------------------------------
10.     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
        SHARES*                                                          [  ]
- --------------------------------------------------------------------------------
11.     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
        4.75%
- --------------------------------------------------------------------------------
12.     TYPE OF REPORTING PERSON*
        OO
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILING OUT!

<PAGE>
Schedule 13G                         Forms
- --------------------------------------------------------------------------------

- ------------------------                                 -----------------------
 CUSIP NO. 40415F101                  13G                  Page 4 of 9 Pages
          ------------                                         ---  ---
- ------------------------                                 -----------------------

- --------------------------------------------------------------------------------
1.      NAME OF REPORTING PERSONS
        I.R.S IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
        MONETARY AUTHORITY OF SINGAPORE
        (NONE)
- --------------------------------------------------------------------------------
2.      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) [ ]

                                                                  (b) [X]
- --------------------------------------------------------------------------------
3.      SEC USE ONLY
- --------------------------------------------------------------------------------
4.      CITIZENSHIP OR PLACE OF ORGANIZATION
        SINGAPORE
- --------------------------------------------------------------------------------
NUMBER OF SHARES          5.  SOLE VOTING POWER           0
BENEFICIALLY OWNED        ------------------------------------------------------
BY EACH REPORTING         6.  SHARED VOTING POWER         4,056,475
PERSON WITH               ------------------------------------------------------
                          7.  SOLE DISPOSITIVE POWER      0
                          ------------------------------------------------------
                          8.  SHARED DISPOSITIVE POWER    4,056,475
- --------------------------------------------------------------------------------
9.      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
        4,056,475
- --------------------------------------------------------------------------------
10.     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
        SHARES*                                                          [  ]
- --------------------------------------------------------------------------------
11.     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
        1.44%
- --------------------------------------------------------------------------------
12.     TYPE OF REPORTING PERSON*
        OO
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILING OUT!
<PAGE>
Schedule 13G                      Forms
- --------------------------------------------------------------------------------

- ------------------------                                 -----------------------
 CUSIP NO. 40415F101               13G                     Page 5 of 9 Pages
          ------------                                         ---  ---
- ------------------------                                 -----------------------
- --------------------------------------------------------------------------------
1.      NAME OF REPORTING PERSONS
        I.R.S IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
        BOARD OF COMMISSIONERS OF CURRENCY, SINGAPORE
        (NONE)
- --------------------------------------------------------------------------------
2.      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) [ ]

                                                                  (b) [X]

- --------------------------------------------------------------------------------
3.      SEC USE ONLY
- --------------------------------------------------------------------------------
4.      CITIZENSHIP OR PLACE OF ORGANIZATION
        SINGAPORE
- --------------------------------------------------------------------------------
NUMBER OF SHARES         5.  SOLE VOTING POWER               0
BENEFICIALLY OWNED       -------------------------------------------------------
BY EACH REPORTING        6.  SHARED VOTING POWER             381,546
PERSON WITH              -------------------------------------------------------
                         7.  SOLE DISPOSITIVE POWER          0
                         -------------------------------------------------------
                         8.  SHARED DISPOSITIVE POWER        381,546

- --------------------------------------------------------------------------------
9.      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
        381,546
- --------------------------------------------------------------------------------
10.     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
        SHARES*                                                          [  ]
- --------------------------------------------------------------------------------
11.     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
        0.13%
- --------------------------------------------------------------------------------
12.     TYPE OF REPORTING PERSON*
        OO
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILING OUT!


<PAGE>
                                                                     PAGE 6 OF 9


ITEM 1(a).  NAME OF ISSUER

            HDFC Bank Limited

ITEM 1(b).  ADDRESS OF ISSUERS' PRINCIPAL EXECUTIVE OFFICES

            Sandoz House
            Dr Annie Besant Road
            Worli
            Mumbai 400 018
            India

ITEM 2(a).  NAME OF PERSON FILING
<TABLE>

            <S>        <C>
            I          Government of Singapore Investment Corporation Pte Ltd
            II         Government of Singapore
            III        Monetary Authority of Singapore
            IV         Board of Commissioners of Currency, Singapore
</TABLE>


ITEM 2(b).  ADDRESS OF PRINCIPAL BUSINESS OFFICE
<TABLE>

            <S>               <C>     <C>
            I                         168 Robinson Road
                                      #37-01 Capital Tower
                                      Singapore 068912

            II, III & IV      c/o     Government of Singapore Investment Corporation Pte Ltd
                                      168 Robinson Road
                                      #37-01 Capital Tower
                                      Singapore 068912
</TABLE>


ITEM 2(c).  CITIZENSHIP
<TABLE>
            <S>                       <C>

            I, II, III & IV           Singapore
</TABLE>


ITEM 2(d).  TITLE OF CLASS OF SECURITIES

            Equity Shares


ITEM 2(e).  CUSIP NUMBER

            40415F101 (for ADR)


ITEM 3.     IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-I(b) OR 13d-2(b)
            OR (c), CHECK WHETHER THE PERSON FILING IS A

            N.A.

IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(c), CHECK THIS BOX.      [ X ]


<PAGE>
                                                                     PAGE 7 OF 9


ITEM 4.  OWNERSHIP

     The aggregate number of securities and percentage of the class of
securities of the Issuer beneficially owned by each Reporting Person named in
Item 2(a), as well as the number of securities as to which such person is deemed
to have sole power to vote or to direct the vote, shared power to vote or to
direct the vote, sole power to dispose or to direct the disposition, shared
power to dispose or direct the disposition, is set forth in the following table:

<TABLE>
<CAPTION>

                                                                  Power to Vote            Power to Dispose
                                        No of Securities       ---------------------     ----------------------
Person                                 Beneficially Owned      Sole(1)    Shared(1)      Sole(1)     Shared(1)
- ------                                 ------------------      -------    ----------     -------    -----------
<S>                                    <C>                     <C>        <C>            <C>        <C>

Government of Singapore Investment
Corporation Pte Ltd                        17,824,862             0       17,824,862         0       17,824,862

Government of Singapore                    13,386,841             0       13,386,841         0       13,386,841

Monetary Authority of Singapore             4,056,475             0        4,056,475         0        4,056,475

Board of Commissioners of
Currency, Singapore                           381,546             0          381,546         0          381,546

Total(2) (all Reporting Persons)           17,824,862             0       17,824,862         0       17,824,862
</TABLE>

(1)  The Government of Singapore Investment Corporation Pte Ltd shares power to
     vote and power to dispose of the 13,386,841 securities beneficially owned
     by it with the Government of Singapore, shares power to vote and dispose of
     the 4,056,475 securities beneficially owned by it with the Monetary
     Authority of Singapore, and shares power to vote and dispose of the 381,546
     securities owned by it with the Board of Commissioners of Currency,
     Singapore.

(2)  The reporting persons disclaim membership in a group.


ITEM 5.  OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

         N.A.


ITEM 6.  OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

         N.A.


ITEM 7.  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
         SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

         N.A.


ITEM 8.  IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

         N.A.

<PAGE>
                                                                    PAGE 8 OF 9

ITEM 9.  NOTICE OF DISSOLUTION OF GROUP

         N.A.


ITEM 10. CERTIFICATION

     By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.


MATERIAL TO BE FILED AS EXHIBITS

1.   Power of Attorney by Minister for Finance, Singapore dated 5 March 1998

2.   Power of Attorney by Monetary Authority of Singapore dated 6 March 1998

3.   Power of Attorney by Board of Commissioners of Currency, Singapore dated 5
     March 1998

(Incorporated by reference to Exhibit No. 1, 2 and 3 to Schedule 13G, dated
March 23, 1998 regarding SPDR Trust Series 1).


<PAGE>
                                                                    PAGE 9 OF 9


                                    SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.


      July 30, 2002                Government of Singapore Investment
- -------------------------          Corporation Pte Ltd
          Date

                                   by     /s/ Ho Yuit Mun
                                      -------------------------------
                                          Ho Yuit Mun
                                          Assistant Director


                                   by     /s/ Kelvin Lim
                                      -------------------------------
                                          Kelvin Lim
                                          Regional Manager


                                   Government of Singapore
                                   by Government of Singapore Investment
                                   Corporation Pte Ltd, its attorney-in-fact


                                   by     /s/ Ho Yuit Mun
                                      -------------------------------
                                          Ho Yuit Mun
                                          Assistant Director


                                   by     /s/ Kelvin Lim
                                      -------------------------------
                                          Kelvin Lim
                                          Regional Manager


                                   Monetary Authority of Singapore
                                   by Government of Singapore Investment
                                   Corporation Pte Ltd, its attorney-in-fact


                                   by     /s/ Ho Yuit Mun
                                      -------------------------------
                                          Ho Yuit Mun
                                          Assistant Director


                                   by     /s/ Kelvin Lim
                                      -------------------------------
                                          Kelvin Lim
                                          Regional Manager


                                   Board of Commissioners of Currency, Singapore
                                   by Government of Singapore Investment
                                   Corporation Pte Ltd, its attorney-in-fact


                                   by     /s/ Ho Yuit Mun
                                      --------------------------------
                                          Ho Yuit Mun
                                          Assistant Director


                                   by     /s/ Kelvin Lim
                                      -------------------------------
                                          Kelvin Lim
                                          Regional Manager

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
