HDFC Bank to double rural reach to 2 lakh villages in two years

HDFC Bank plans to hire 2,500 people in the next 6 months. At present, the private lender offers its products and services to micro and medium enterprises in over 550 districts. Its rural banking services extend to 1 lakh Indian villages, which it aims to double to 2 lakh. Private lender HDFC Bank aims to cover a third of India’s villages, by expanding its reach to two lakh villages in the next 18-24 months. Currently, the bank covers 1 lakh villages. The bank plans this expansion through a combination of branch networks, business correspondence, business facilitators, and digital outreach platforms.
" India's rural and semi-urban markets are under-served in credit extension,” said Rahul Shukla, Group Head – Commercial and Rural Banking, HDFC Bank. “They present sustainable long-term growth opportunities for the Indian banking system. Going forward we dream of making ourselves accessible in every pin code.”