In a bid to attract potential borrowers to its fold, the personal financial services division of the banking major, HSBC India, is looking at alternative models for the distribution of credit. | |
| Nicholas G Winsor, head of personal financial services division, said here that "in view of the pent up demand for credit in Kerala, the HSBC India's personal financial services division has lined up plans to go in for alternative distribution models like the internet." |
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| According to Winsor, the trend in going for personal loans has seen a major shift over the years. The time has changed from when people used to save for the future to the current practice of borrowing to suit their needs. |
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| Though India continues to be a country not much interested in consumer debt, when compared to international standards, things are fast changing. |
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| Besides, HSBC India is looking at unveiling services with an NRI focus, aimed at more participation from Kerala. |
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| "HSBC India has tied up with HSBC Middle East to offer a unique scheme which would allow the NRIs in the Gulf region to open one single account which could be operated in the UAE as well as in India. This is intended to make money movement seamless and hassle-free," Winsor added. |
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| This apart, the services offered by the bank in the Middle East and India would be made available for the customer holding the account in both countries. |
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| The bank, which has completed 150 years of operations in the country, is all set to reach the 50-branch figure next year. |
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