NEWS & ADVICE : FIXED DEPOSITS
HDFC Bank in strategic alliance with Camson Biotech to reach rural India
By Neelima Shankar
Jun 22, 2012
Print    Email    RSS   

HDFC bank and Camson Biotechnologies Ltd. have come together to form a strategic alliance. In a statement, Camson Biotechnologies Ltd., an agriculture based biotech company, said that both the companies have signed a MoU to enter into a formal agreement.

Camson has a strong presence in rural India due to its dealership network. HDFC bank will tap into Camson's 3000 member strong dealership network to increase its reach in rural India.

Elaborating details of the agreement, Mr. Santosh Nair , the CEO of Camson Biotech said, that according to the MoU signed by both the parties, HDFC bank will certify Camson's dealers as Business Consultants (BC) as per the rules laid down by RBI under its Financial Inclusion Policy. Then, the dealers will be provided current accounts and credit facilities at special rates, all tailor-made to suit their requirements. The BC will be entitled to almost all the facilities that any other customer avails at an ATM.

Presently, HDFC bank has about 85000 rural customers and its association with Camson is expected to increase the number of its rural clients to 5 lakhs, in states such as Kerala, Karnataka, Maharashtra, Gujrat, Madhya Pradesh and Uttar Pradesh.

Talking about another joint venture of both the companies in rural India, Mr. Nair said that HDFC bank and Camson Boitech will start "Kisan Card", a co-branded product which would help farmers to buy agricultural inputs at low rates.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Should you preclose your current FD for...
Know all about non-bank fixed deposits
Know about corporate fixed deposits
Planning to invest in a bank FD? Think again
Fixed deposits in India: Benefits,...


NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...
If I invest 100000 rupees deposit for 2 year , how...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive