150 Gramin Loan Mahotsavas planned across India under Bank’s Rural Campaign. HDFC Bank, one of the premier banks in the country, held a Mega Loan Mahotsava at Jajpur in Orissa.
Mahotsava at Jajpur in Orissa. Jajpur is located around 120 km from the capital city Bhubaneshwar in Orissa. It largely produces paddy, groundnut, pulses and other agricultural crops.
— HDFC Bank, one of the premier banks in the country, held a Mega Loan
At the Gramin Loan Mahotsava in Jajpur Road, which is amongst the largest of such events ever held in the district, a variety of loans such as auto loans, 2 wheeler loans and commercial vehicle loans were given to rural customers. Three day loan Mahotsavas were also held in the nearby villages of Duburi, Jajpur Town, Jajpur Road and Chandikhol.
HDFC Bank kick-started the Mega Loan Mahotsava under the bank’s New Rural Campaign in July 2010 at Pimpalgaon near Nasik in Maharashtra. The Bank is holding a total of 150 Gramin Loan Mahotsavas, small and big, across the country. The states include Gujarat, Maharashtra, Rajasthan, Andhra Pradesh, Karnataka, Tamil Nadu, Orissa, West Bengal and Punjab.
Vehicle keys and cheques were handed over to customers by Mr. Rajan Pental, Executive Vice President & Business Manager, Auto Loans, HDFC Bank and Mr. Gulzar Singh, Regional Business Head, East, HDFC Bank. Amongst the dignitaries present on the dais were Mr. Pramod Mohanty, Collector, Jajpur, Mr. Dhirendra S. Kutey, SP, Jajpur, and Mr. Purshotam Lal Kandoi, President, Kalinganagar Industrial Association, Jajpur.
Mr. Pralay Mondal, Country Head, Retail Assets, HDFC Bank from Mumbai said, “Welcome changes are sweeping across India, especially rural India. We are a major financial intermediary in the country today, and it is our earnest endeavour to make a difference to the lives of people residing there by reaching out to them. Jajpur is flourishing as an agricultural trade market owing to its rich and fertile vegetation. We are committed to partnering our customers in their journey of progress.”
Mr. Rajan Pental said, “It is my firm belief and conviction that greater thrust and focus on rural development would pump the Indian economy. The development of these areas and improvement in the quality of life of its people has changed the way we look at rural India. Under the bank’s rural campaign, more such loan mahotsavas are planned across the country.”
Source: Press release distribution via India PRwire
Notes to Editor
About HDFC Bank
Promoted in 1995 by Housing Development Finance Corporation (HDFC), India’s leading housing finance company, HDFC Bank is one of India’s premier banks providing a wide range of financial products and services to its 19 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking. Within a relatively short span of time, the bank has emerged as a leading player in retail banking, wholesale banking, and treasury operations, its three principal business segments.
The bank’s competitive strength clearly lies in the use of technology and the ability to deliver world-class service with rapid response time. Over the last 15 years, the bank has successfully gained market share in its target customer franchises while maintaining healthy profitability and asset quality. As of September 30, 2010, the Bank had a distribution network with 1,765 branches and 4,721 ATMs in 819 cities.
For the quarter ended September 30, 2010, the Bank’s total income was INR 57.71 billion (`5,770.7 crore) as against INR 50.45 billion (`5,045.4 crore) for the quarter ended September 30, 2009. Net revenues (net interest income plus other income) were INR 34.87 billion (`3,487.0 crore) for the quarter ended September 30, 2010, an increase of 15.9% over INR 30.09 billion (`3,009.3 crore) for the corresponding quarter of the previous year. Net Profit for the quarter ended September 30, 2010 was INR 9.12 billion (`912.1 crore), up by 32.7% over the corresponding quarter ended September 30, 2009.
The Bank’s total balance sheet size increased by 28.9% from INR 1939.41 billion (`193,941.0 crore) as of September 30, 2009 to INR 2499.83 billion (`249,983.0 crore) as of September 30, 2010. Total deposits were INR 1953.21 billion (`195,321.0 crore), up by 30.4% over September 30, 2009.
Total income for the year ended March 31, 2010 were INR 199.80 billion (`19980.5 crore). Leading Indian and international publications have recognized the bank for its performance and quality. For more information please log on to: www.hdfcbank.com
For more information, please contact:
Anupriya Keshri (Executive) (L) 02240425550, (M) 9930949709