HDFC holds loan mela at Eluru
HDFC Bank, one of India’s leading banks, organised a loan mela at Eluru on Tuesday in which nearly 3,500 prospective customers attended.
image for illustrative purpose
Eluru: HDFC Bank, one of India’s leading banks, organised a loan mela at Eluru on Tuesday in which nearly 3,500 prospective customers attended.
In Andhra Pradesh, the bank’s distribution network stands at 345 branches spread across 179 cities and backed up by a business correspondent network of 445. As of March 31, 2023, the Bank’s distribution network stood at 7,821 branches and 19,727 ATMs/cash deposit and withdrawal machines (CDMs) across 3,811 cities/towns. Over half its branches are in the semi-urban and rural areas. In addition, the bank has 15,921 business correspondents, primarily manned by Common Service Centres which takes its offerings to the deeper geographies.
The customers at the mela were drawn from farming communities, FPOs, agri startups, small agri entrepreneurs, transporters, shopkeepers, healthcare enterprises and MSMEs.
Organised by the Commercial and Rural Banking (CRB) Group of the bank, the mela gave an overview of its products and services and issued sanction letters to thousands of customers that can potentially make a difference to the lives of 14,000 people, including customers’ families.
The products and services included agriculture finance, healthcare finance, construction vehicle finance, commercial equipment finance and Dukandar Dhamaka. MSMEs can avail of working capital, term loans and bank guarantees. The event was inaugurated by Rahul Shyam Shukla, Group Head –CRB, HDFC Bank. V Prasanna Venkatesh, District Collector was the chief guest.
Speaking at the launch, Shukla said “we are committed to contributing to the economic growth of the Krishna-Godavari region. Today, our small businesses and farmers have poor access to the formal banking system. There are still 6-7 crore small farmers and shopkeepers who access high-cost credit from the informal system."
