HDFC bank will hire 2,500 people, double the reach of 200,000 villages


Mumbai: Private-sector lender HDFC Bank on Sunday announced plans to double its reach to 200,000 villages over the next 18 to 24 months, through a combination of a network of branches, trade correspondents, business facilitators, digital awareness platforms, among others. It will also hire 2,500 people over the next six months.

This, according to the bank, will increase its rural reach to about a third of the country’s villages. HDFC Bank currently offers its products and services to micro, small and medium enterprises (MSMEs) in more than 550 districts and its rural banking services extend to 100,000 villages in India.

“India’s rural and semi-urban markets are underserved when it comes to extending credit. They present long-term sustainable growth opportunities for the Indian banking system. HDFC Bank remains committed to granting credit, in a responsible manner, in the service of the nation. In the future, we dream of making ourselves accessible in every PIN code, ”said Rahul Shukla, Group Manager (Commercial and Rural Banks) at HDFC Bank.

While offering its services, the bank said it will offer its traditional products and services as well as new ones.

The bank said in a statement that it already offers personalized offers such as pre- and post-harvest harvest loans, two-wheeler and auto loans, loans for gold jewelry and other organized loan products. in unbanked and underbanked geographic areas. The new offers will be made with the rapidly changing rural ecosystem in mind, the statement said.

“The Indian government, through various programs, is transforming the rural economy. We believe in the need to follow the lead, as a responsible leader in banking and financial services, in making the best banking products and services accessible to all segments of society, ”added Shukla.

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