“This will bring rural outreach to nearly a third of the country’s villages,” it said in a statement.
HDFC Bank said it will expand its reach to two lakh villages in the next 18-24 months. Under this scheme, it will employ 2,500 more people in the next six months.
The bank said the expansion will happen through a combination of branch network, business correspondents, business facilitators, CSC partners, virtual relationship management and digital outreach platforms.
“This will bring rural outreach to nearly a third of the country’s villages,” it said in a statement.
Rahul Shukla, head of commercial and rural banking group, HDFC Bank, said: “There is a lack of credit expansion in India’s rural and semi-urban markets. They present sustainable long-term growth opportunities for the Indian banking system.”
“The bank is committed to lend responsibly, in the service of the nation. Going forward we dream of making ourselves accessible in every pin code,” he said.
While offering its services in rural India, the bank will introduce new ones along with its traditional products and services.
It already offers customized products in non-banking and under-banked geographies such as pre- and post-harvest crop loans, two-wheeler and auto loans, loans against gold jewellery, and other loan products.
It will now offer various products keeping in mind the rapidly changing rural ecosystem.
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