Private sector bank HDFC has come up with a new proposal to provide better facilities to its customers. Under this, the bank plans to double its branches within three to five years. Under this, every 1,500 to 2,000 branches will be opened. The chief executive officer (CEO) of the private sector bank, Shashidhar Jagadeesan, said that this would benefit the far-flung people. They will not need to wander here and there for any banking work.
He said that at present the bank has more than 6000 branches across the country and its number will be doubled by opening 1,500 to 2,000 branches every year. The CEO said that the number of branches in this country is very less as compared to the OEDC countries. For this reason it is planned to double the number of branches.
In early April this year, Housing Development Finance Corporation and its subsidiary HDFC Bank had announced its transformation merger. Which is expected to be completed in about 15 to 18 months. Describing the merger as ‘Power of One’, Jagadeesan said that it will provide better convenience to the customers. At the same time, the bank will offer a set of features, in-depth product, process and many more features to the customers.
He further added that the bank does not want to miss the opportunity of adding customers. For this reason, customers will get better loan facility with better facilities. Emphasizing on the figures, Jagdishan said that only 2 per cent people are taking loans and 5 per cent are availing loans from other places. At the same time 70 percent of the people are still away from the facilities of the bank.
To make the facility of home loan accessible to the customers, more and more people will be connected and the facility of availing the loan will also be made easy. Also an affordable loan will be made available to the people. Regarding raising capital, he said that soon the bank will plan to raise funds up to 50000 crores by issuing bonds.
