New Delhi, Mar 19 (UNI) With a view to spreading its footprint across the nation, HDFC Bank, India’s largest private sector bank, today announced the inauguration of 60 Business Correspondent (BC) Banking Outlets across RBI-notified unbanked rural centers (URCs) pan-India.
These new outlets now increase HDFC Bank's URC network presence to 5,020 outlets. Notably, 34 percent of the bank's BC Agent network now caters to providing formal financial products and services across 10,602 villages.
The initiative was undertaken in collaboration with Common Service Centre (CSC) eGov. It will help deliver essential banking services to the last mile, directly through the physical centers of village-level entrepreneurs (VLEs) acting as micro-entrepreneurs and, in turn, empowering communities in underserved regions.
Customers will benefit from a comprehensive suite of the bank’s financial solutions, including convenient cash deposit and withdrawal through Aadhaar Enabled Payment System (AEPS)-enabled transactions; neighborhood locations for EMI collection of loans; government-backed social security schemes to create an insurance safety net; opening bank accounts for directly receiving government scheme transfer benefits; fixed and recurring deposit options for financial planning; and access to credit through loans like SLI and Kisan Gold Card to fulfill household aspirations.
Speaking on the development, Ms. Smita Bhagat, Group Head, Retail Branch Banking—North, East, and Central, ABCP & Retail FX, HDFC Bank, said, “HDFC Bank is deeply committed to financial inclusion even in the remotest corner of the country. We are happy that a significant portion, nearly 34 percent of our BC network, operates within RBI-notified unbanked rural centers (URCs).
“We aim to empower these communities and contribute to the government's financial inclusion agenda by providing crucial financial solutions like AePS transactions, deposit services, government-backed insurance, and access to credit facilities,” she added.
Mr. Sanjay Rakesh, MD of CSC, emphasized the importance of digital innovation by suggesting that the bank should consider introducing a diverse range of digital products and services at BC centers. This strategic move aims to provide comprehensive banking services directly to customers within the catchment area.
UNI SKB GNK