HDFC Bank is expanding its distribution footprint leveraging ‘branch and virtual relationship channels’ with digital marketing as the key channel, MD & CEO Sashidhar Jagdishan said in the bank’s latest annual report.
“This will enable us to capture the growth potential in both India and Bharat and different consumer segments like the tech-savvy and millennials going forward,” he said.
The bank, however, had been in the spotlight in the last 28 months “for the wrong reasons when it came to technology.”
Mr. Jagdishan said the last technology downtime had led to the Reserve Bank of India banning the bank from issuing new credit cards as well as putting on hold new plans under its Digital 2.0 initiative.
“We have taken this as an opportunity to improve and redouble our efforts to fix the problem for good.”
