HDFC bank to double its branches in Chhattisgarh

The 37 branches that banks have located in 29 cities across state

The HDFC Bank, the second largest private bank in the country, would expand its operation in Chhattisgarh and double the number of branches.

“At present, the bank has 37 branches across the state that we now want to increase to 74,” Amit Kumar, branch banking head of the HDFC Bank, said here today. The bank had set the target to achieve the target in this financial year i.e. before March 31, 2014, he added.

The HDFC Bank sees Chhattisgarh as a potential state. “The state is a key market for the bank as it is shinning state as far as the development and growth are concerned,” Kumar said, adding that the bank is growing at 30 to 40% on year-on-year basis that would continue.

The 37 branches that the banks have are located in 29 cities across the state. All the branches are linked on an online real-time basis. Kumar said the HDFC Bank would be focusing on the semi- urban and rural centres. The bank has set up fourth 2-men rural branches in this financial year and plans to open more, Kumar added. The number of ATMs would also double to 122 in the current fiscal.

Among the new branches in the list, the HDFC plans to open maximum in the rural areas. According to Kumar, of the planned new branches, about 30 would come up in the rural areas. “We had a discussion with the state government officials and they had assured all assistance to open branches in the rural folds,” he added.

In Chhattisgarh, HDFC is also eyeing in the unbanked areas. The bank had selected 230 villages in the state where financial literacy programme would be taken up.