You are here: Home » Finance » News » Others
Business Standard

HDFC Bank looking at 3G services to boost mobile banking share

Press Trust of India  |  Hyderabad 

HDFC Bank aims to increase the number of clients using its mobile banking services in Andhra Pradesh to 10% of its customer base once 3G services are fully rolled out in the state from below 5% at present, a senior official has said.

The leading private lender is also set to open 34 new branches in the state before the end of this financial year, taking the total number to 137.

"It (mobile banking) is still in the nascent stage. It has to go a long way. After facilities like 3G services are launched, it is expected to reach 10%. Currently, mobile banking is around 3 to 5%," HDFC Bank Senior Vice-President C S Gopinath told PTI.

He said the aim is to encourage customers to go for more technology-based services like ATM, mobile and Internet banking.

According to Gopinath, only 26% of HDFC Bank's customers visit branches and the rest depend on ATMs, the Internet and mobiles for their banking needs. "We have 450 to 500 ATMs in AP and up to 20% of customers use Internet banking," he said.

He said HDFC Bank plans to open 34 new branches in the state by the end of this fiscal.

"Currently, we have 103 branches in AP. We plan to open another 34 by the end of this financial year, taking the number of branches to 137. In Karnataka, we have close to 100 branches and in Kerala - 150. In Tamil Nadu, we have 135 branches," he informed.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sun, February 20 2011. 17:31 IST