HDFC Bank expanding in UP backwaters

Targets opening 65 odd new branches during 2014-15 to add to its current tally of 284 in UP

HDFC Bank has drawn plans to expand its footprint in the rural and semi-urban pockets of Uttar Pradesh.

The Bank is targetting to open 65 odd new branches during 2014-15 to add to its current tally of 284 in UP and take the total count to 350 by the end of fiscal.

"Majority of the new branches would be opened in the un-banked and rural areas of the state spanning 75 districts," HDFC regional head Arun Mediratta told Business Standard.

He said the Bank had ambitious growth plans and the actual number of new branches could even be higher.

He informed HDFC Bank had also achieved its target of opening 62 new branches in UP under the central plan to augment the network of commercial banks' branches in the state by March 31, 2014 for effective financial inclusion and higher branch-population ratio.

Meanwhile, HDFC Bank rolled out its series of 'secured banking workshop' in the state. It is aimed at educating customers on matters concerning safe banking and secured transactions.

The topics would cover using a cheque, transacting at ATMs, using debit/credit cards at point of sale (PoS) terminals, merchant outlets and online banking.

Reserve Bank of India (RBI) assistant general manager Kshitij Singh said while it was incumbent upon banks to keep their banking systems and channels secure and tamper proof, it was also imperative for people to follow safe banking practices.

Promoted in 1995 by Housing Development Finance Corporation (HDFC), HDFC Bank serves 28.5 millions customers. It has a network of about 3,500 branches and 11,450 ATMs across 2,231 cities.