HDFC Bank said it would expand its reach to two lakh villages in the next 18-24 months. As a part of this plan it will hire 2,500 people more in the next 6 months, it said.
The bank said expansion would be through a combination of branch network, business correspondents, business facilitators, CSC partners, virtual relationship management and digital outreach platforms.
“This will increase the rural outreach to about a third of the country’s villages,” it said in a statement.
Rahul Shukla, Group Head, Commercial and Rural Banking, HDFC Bank, said: “India’s rural and semi-urban markets are under-served in credit extension. They present sustainable long-term growth opportunities for the Indian banking system.”
“The bank remains committed to extend credit, responsibly, in service of the nation. Going forward we dream of making ourselves accessible in every pin code,” he added.
While offering its services in rural India the bank will offer its traditional products and services as well as new ones.
It already offers customised products such as pre- and post-harvest crop loans, two-wheeler and auto loans, loans against gold jewellery, and other loan products in unbanked and under-banked geographies.
It will now offer different products keeping in mind the fast-changing rural ecosystem, it said.
