HDFC turns into first non-public financial institution to open department in Lakshadweep

Non-public lender HDFC Financial institution opened a department at Kavaratti Island in Lakshadweep, making it the one non-public sector financial institution to have a department within the Union Territory.

This department is geared toward upgrading the banking infrastructure within the Union Territory by providing a variety of companies with a give attention to private banking, and digital banking which additionally contains customised digital options together with QR-based transaction to retailers.

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HDFC Financial institution has branches within the chilly climes of Kashmir, the southern tip of Kanyakumari and now the island of Lakshadweep – a outstanding vacationer place.

“This reaffirms our dedication to serving prospects wherever they in an especially handy vogue,” mentioned S Sampathkumar, Group Head- Retail Department Banking, HDFC Financial institution.

“We look ahead to serving the monetary wants of people, households, and companies in Lakshadweep and turning into a trusted associate of their monetary journey and contributing to the general growth of the island,” mentioned S Sampathkumar.

As of December 31, 2023, the HDFC Financial institution’s distribution community was at 8,091 branches and 20,688 ATMs throughout 3,872 cities or cities as in opposition to 7,183 branches and 19,007 ATMs throughout 3,552 cities or cities as of December 31, 2022. About 52 per cent of its branches are in semi-urban and rural areas.

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As well as, it has 15,053 enterprise correspondents, that are primarily manned by Frequent Service Centres (CSC).