HDFC Bank to spread network to capture Indian rural market

HDFC Bank, the third largest public sector lender of India, has chalked out new measures to expand network to rural areas of the country, with the aim of capturing opportunity created by increasing demand for for banking and finance products by farmers and Self Help Groups.     

New branches in rural areas would have core banking facility, similar to those which the bank provides to customers in metropolitan cities, according to a top official of the bank.      

"During the next fiscal, we plan to open more than 200 branches across the country. Of this, we will open more than 100 branches in rural areas," HDFC Bank Senior Vice-President G S Gopinath said.     

Currently, 125 of the total of 325 branches in South India are in rural and semi-urban areas, 113 in urban areas and 87 branches in metro cities.

"The main idea is to make farmers and SHG have a bank account and access to the bank," he said.     

For this purpose, HDFC Bank has planned to depute more field staffs and provide offices with internet and other facilities at rural branches.     

"We believe that HDFC Bank has great potential for further development due to its broad geographical service coverage, its connection with rural residents and the increasing demand for loans in rural areas," he said.