- Expected to create about 1,000 jobs
- The bank has its BPO in Kalol manned exclusively by 105 women which handles its backend operations
- Being tech savvy, the bank offers instant personal loans based on the credit score created by the Artificial Intelligence (AI) 24×7, 365 days: Thomson Jose, Retail Branch Banking Head Gujarat
NE BUSINESS BUREAU
AHMEDABAD, DEC 21
HDFC Bank, India’s leading private sector bank has inaugurated its 500th branch in the state. The opening of the new branch at Sindhu Bhavan Road, Ahmedabad, Gujarat makes it the first private sector bank in the state to touch this landmark. The bank will open over 100 branches by March 2023 out of which 55 will come up in rural areas, a senior official of the bank said.
Thomson Jose, Retail Branch Banking Head Gujarat announced this at a press conference on Wednesday. The launch of this branch is in line with the banks plans to increase its presence across Gujarat. It plans to improve its footprint across the metro, urban, semi-urban and rural locations in the state. About half its branches in the country as well as the state are located in the semi urban and rural areas.
HDFC Bank has rapidly expanded its branch network in Gujarat by opening 102 branches in the past 5 years. The bank has already opened 25 branches in this Financial Year and plans to end the year by opening 100+ branches in the state by March 2023, which is expected to generate employment for about 1,000 people. Out of these100 branches
Speaking at the inauguration, Thomson Jose, Retail Branch Banking Head Gujarat, HDFC Bank said, “We are delighted to help contribute to the Gujarat growth story. The state’s entrepreneurial spirit has spawned many successes especially in the MSME sector. Through our growing branch network and other initiatives, we plan to cater to this growth and contribute to the prosperity of the people of Gujarat.”
While the bank’s deposits in Gujarat stood at Rs 97,625 crore in the first quarter of FY 2023 it has extended advances worth Rs 1 lakh crore, including 36% of the total advances or Rs 36,564 crore to the MSMEs. However, only Rs 2,000 crore has been lent under for Emergency Credit Line Guarantee Scheme.
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— HDFC Bank (@HDFC_Bank) December 16, 2022
Jose said that they grant MSME loans within 15 days provided the papers were in order and it may go up to one month and beyond for facilitating proper documents. The minimum loan starts at Rs 30 lakh, he added..
To a query on opening of any all-women branch in Gujarat, Jose said that the bank is driving diversity and inclusion within the organization with a special focus on enhancing gender diversity. He added that as of now over one-fifth of the staffers were women.
However, the bank has its BPO in Kalol manned exclusively by 105 women which handles its backend operations, Jose said.
Being tech savvy, the bank offers instant personal loans based on the credit score created by the Artificial Intelligence (AI) 24×7, 365 days, Jose added.
HDFC Bank’s journey in Gujarat began in the year 1996 with the opening of its first branch at Navrangpura, Ahmedabad. The Bank lends to a host of sectors, including agriculture, MSME’s and renewable energy. It has a strong retail portfolio comprising car loans, two-wheeler loans, consumer durable loans, personal loans and credit cards.
