HDFC Bank launches Dhanchayat

BANKING / FINANCE

HDFC Bank launches Dhanchayat

       

by Shrutee K/DNS

Mumbai, July 30, 2015: HDFC Bank Ltd.  launched ‘Dhanchayat’ an educational film to raise awareness on the dangers of borrowing money from unorganised sources. This film has been launched under the aegis of Swachch Banking, the Bank’s CSR initiative for rural India.

As part of Swachch Banking, which aims to raise awareness about clean and convenient banking, HDFC Bank-branded Dhanchayat video vans will travel across East, West, South, North and Central India, covering thousands of villages across the country. Through the film, the bank will showcase to the rural population the importance of transparency in dealings as also the dignity and self-respect of the individual in the borrowing process. The vans will stop at assembly points such as haats, bazaars, melas and village panchayats.

The Bank will cover 5000 villages in phase 1 and encourage the local populace to join the organized banking sector in line with the government’s vision for financial inclusion. The vans will also have micro-ATMs with biometric facility fitted in them to enable instant e-KYC and Re-KYC using Aadhar. 

The first van was flagged off by Mr Aditya Puri, MD, HDFC Bank and Mr Paresh Sukthankar, Deputy MD, from the Bank’s headquarters in Mumbai.

Speaking at the launch event, Mr Paresh Sukthankar, Deputy Managing Director, HDFC Bank said, “The need of the hour is real financial inclusion, not merely financial access. It is a Board-mandated objective at HDFC Bank to support inclusive growth. We believe this cannot be achieved in an environment where misinformation and a lack of familiarity with organized finance is pushing people towards unorganized sources of finance. Through Dhanchayat we hope to change this.”

About HDFC BANK

Promoted in 1995 by Housing Development Finance Corporation (HDFC), India's leading housing finance company, HDFC Bank is one of India's premier banks providing a wide range of financial products and services to its 32 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking. Within a relatively short span of time, the bank has emerged as a leading player in retail banking, wholesale banking, and treasury operations, its three principal business segments.

The bank’s competitive strength clearly lies in the use of technology and the ability to deliver world-class service with rapid response time. Over the last 20 years, the bank has successfully gained market share in its target customer franchises while maintaining healthy profitability and asset quality.

As of June 30, 2015, the Bank had a distribution network with 4,101 branches and 11,962 ATMs.

For the quarter ended June 30, 2015, the Bank’s total income was INR 165.03 billion (`16503 crore) as against INR 130.7 billion (`13,070.7 crore) for the quarter ended June 30, 2014. Net revenues (net interest income plus other income) were INR 88.5 billion (`8850.7 crore) for the quarter ended June 30, 2015, as against INR 70.22 billion (`7,022.2 crore) for the corresponding quarter of the previous year. Net Profit for the quarter ended June 30, 2015, was INR 26.95 billion (`2,695.7 crore), up by 20.7% over the corresponding quarter ended June 30, 2014.

Total income for the year ended March 31, 2015, was INR 574.66 billion (`57,466.3 crore).

Leading Indian and international publications have recognised the bank for its performance and quality.

 For more information please log on to: www.hdfcbank.com