In a bid to accelerate the process of financial inclusion in Odisha and its remote villages, the private sector bank, HDFC Bank, has planned to open new branches in the state. Currently, the bank has 61 operating branches there and plans to take this number to 102 by the end of this fiscal.
Talking about the bank's expansion plans in the state, Managing Director of HDFC bank, Mr. Aditya Puri said that at present the bank has presence in 25 districts in Odisha through its 61 branches. It plans to add 11 new branches by October and another 30 branches by the end of the year 2012. By setting up these new 102 branches, the bank will have established its reach in all 30 districts in Odisha.
Mr. Puri further said that the bank has set up about 60 percent bank branches in rural and semi-urban regions and with the opening of these new branches, also in the village areas, the bank will have about 75 percent of its branches in rural and semi urban regions.
It is reported that the bank is advancing loans to all segments of people in the state and is focusing on micro financing and agricultural loans such as crop loans. The bank is taking all possible steps to improve its performance in priority sector lending segment. In addition to commercial vehicle loans, car loans, two wheeler loans and gold loans, the bank is also lending for purchase of tractors and agricultural equipments.