HDFC Bank aims to double rural presence, hire 2,500 people

HDFC Bank, the country's largest private sector lender, on Sunday said it aims to double its rural reach to two lakh villages, which will see it hire 2,500 people in the next six months.

The city-headquartered bank also said it aims to double its presence in the next 18-24 months through a combination of branch network , business correspondents, business facilitators, CSC (common service centres) partners, virtual relationship management and digital outreach platforms.

Earlier in the day, Finance Minister Nirmala Sitharaman had voiced disappointment over banking reach and asked lenders to do more.

HDFC Bank said that after the expansion, the bank's reach will increase to a third of the villages in the country.

"India's rural and semi-urban markets are underserved in credit extension. They present sustainable long-term growth opportunities for the Indian banking system," its Group Head (Commercial and Rural Banking) Rahul Shukla said.

Shukla said that going forward, its dream is to make its services available in every pincode of the country.

Currently, the bank offers its products and services to small businesses in over 550 districts and is a leader in extension of banking services to micro, small and medium enterprises, the statement said.