HDFC Bank launches one of the biggest ever loan melas in Andhra Pradesh
Initiative to benefit small and marginal farmers in Krishna-Godavari basin.
They can avail banking products/services including those offered through Government schemes.
Eluru 23rd May, 2023: HDFC Bank, one of India’s leading banks’, organised a loan mela at Eluru, in Andhra Pradesh. About 3,500 prospective customers attended one of the biggest such events in Eluru. This comprised small and marginal farmers, FPOs, Agri Startups, small Agri entrepreneurs, transporters, shopkeepers, health care enterprises and MSMEs. Organised, by the Commercial and Rural Banking (CRB) Group of the bank, the mela gave an overview of its products and services and issued sanction letters to thousands of customers that can potentially make a difference to the lives of 14,000 people, including customers’ families.
The products and services included agriculture finance, healthcare finance, construction vehicle finance, commercial equipment finance and Dukandaar Dhamaka. MSMEs can avail of working capital, Term loans, LC, and bank guarantees. The event was inaugurated by Mr. Rahul Shyam Shukla, Group Head –CRB, HDFC Bank. Mr. V. Prasanna Venkatesh, IAS, Collector and District Magistrate, Eluru graced the occasion as Chief Guest.
Speaking at the launch, Mr. Rahul Shyam Shukla, Group Head, CRB, HDFC Bank said, “We are committed to contributing to the economic growth of the Krishna -Godavari region. Today, our small businesses and farmers have poor access to formal banking system. There are still 6-7 crore small farmers and shopkeepers who access high-cost credit from the informal system. This mela is a step towards taking banking to those who need it and contribute to rural prosperity. As a bank, our evolution continues from metro to urban, and thereafter semi urban to rural India. The bank extends credit to SMEs in 688 districts and working towards providing agri finance to nearly 2 lakh villages.”
In Andhra Pradesh, the bank’s distribution network stands at 345 branches spread across 179 cities and backed up by a business correspondent network of 445. As of March 31, 2023, the Bank’s distribution network stood at 7,821 branches and 19,727 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 3,811 cities / towns. Over half its branches are in the semi-urban and rural areas. In addition, the bank has 15,921 business correspondents, primarily manned by Common Service Centres which takes its offerings to the deeper geographies.
