Private sector HDFC Bank has set a target of expanding its reach to two lakh villages in the next two years.
Mumbai. HDFC Bank, the largest private sector lender, said on Sunday that it will double its reach in rural areas to 2 lakh villages. For this, the bank has decided to appoint 2,500 people in the next six months.
The bank said it aims to double its presence in rural areas in the next 18-24 months through branch network, business correspondents, CSC (Common Service Centers) partners, virtual relationship management and digital platforms.
Rahul Shukla, Group Head (Commercial and Rural Banking), HDFC Bank said, “The spread of bank loans in rural and semi-urban markets of India is low. They present sustainable long-term growth opportunities for the Indian banking system. Going forward the dream of the bank is to make its services available in every pincode of the country.”
Nirmala Sitharaman said – the country needs 4-5 banks like SBI
while on Sunday itself, Finance Minister Nirmala Sitharaman said that India needs 4-5 ‘SBI-like size’ to meet the growing needs of the economy and industry. The ones’ banks are needed. Addressing the 74th Annual General Meeting of IBA, he said that the industry needs to think about how Indian banking should be in the immediate and long term. He said that keeping in view the challenges of the future, we not only need more number of banks, but also need bigger banks.
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