#HDFCBank Organises Grameen Loan Mela in Ayodhya

#HDFCBank Organises Grameen Loan Mela in Ayodhya

Oct 9, 2023 - 13:36
Oct 9, 2023 - 13:39
#HDFCBank Organises Grameen Loan Mela in Ayodhya
#HDFCBank Organises Grameen Loan Mela in Ayodhya

Ayodhya. HDFC Bank, India’s leading private sector bank, today organized a Grameen Loan Mela at Ayodhya, Uttar Pradesh. The mela was attended by over 8,000 people across eight districts and 40 tehsils from Ayodhya and adjoining districts of eastern Uttar Pradesh. The mela is an opportunity for customers to avail a host of offers on agriculture loans, MSME loans, loans on transportation equipment, and healthcare, among others. 

The beneficiaries of this initiative would be small and marginal farmers and individuals interested in government-sponsored schemes, agri loans, loans against gold, small business owners, FPOs, traders, commission agents, small shopkeepers, transport vehicle owners, and tractor owners, among others. 

Mr. Rahul Shyam Shukla, Group Head - of Commercial and Rural Banking, at HDFC Bank, said, “The Ayodhya Grameen Loan Mela is a significant step towards financial inclusion in the deep rural regions of Uttar Pradesh. All through the year, we have been easing credit for rural people by venturing into deeper geographies of the country. This initiative reflects our dedication to empowering the rural population. We are proud to be able to contribute towards nation-building with our efforts.”

In Uttar Pradesh, the Bank’s distribution network stands at 777 branches spread across 366 cities, backed up by a business correspondent network of 3,329 units. As per the latest State Level Bankers Committee report, HDFC Bank is the largest MSME bank in Uttar Pradesh, with a total MSME book size of Rs. 27,931 crore as of June 30, 2023, which is a market share of 17 percent. The Bank extends credit to SMEs in 699 districts across the country and is working towards providing agriculture finance to nearly 2.5 lakh villages across India.

Earlier this year, the Bank organized Grameen Loan Melas in Jhansi, Uttar Pradesh; Eluru, Andhra Pradesh; Burdwan, West Bengal; and Kalaburagi, Karnataka.

 As of June 30, 2023, the Bank’s distribution network throughout the country stood at 7,860 branches and 20,352 ATMs / cash deposit & withdrawal machines across 3,825 cities/towns. Over half its branches are in semi-urban and rural areas. In addition, the Bank has 15,194 banking correspondents, primarily manned by common service centers, which take its offerings to deeper geographies.

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