 "HDFC Bank branch office in Mumbai")
HDFC Bank Ltd is offering loans against shares in about two-three minutes by completely digitising the loan mechanism.
For this, the bank has tied up with National Securities Depository Ltd (NSDL). Shares dematerialised by NSDL and executed through HDFC Bank demat account could be used for pledging. This is a first-of-its-kind initiative in India and probably the first in the world as well. HDFC Bank and NSDL had consulted the Reserve Bank of India (RBI) before developing the product.
"There would probably be no second lender who has managed to put this (product) on the table. We are probably the first to
