HDFC Bank launches 77th branch in JK, Principal Secy. Navin Choudhary inaugurates unit

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Large scale expansion has generated employment for more than 2,000 locals, says Zubair Iqbal

Jammu: HDFC Bank continuing its growth story in J&K today launched 77th branch at Kachi Chawni, Jammu. The branch was inaugurated by Mr Navin Kumar Choudhary, Principal Secretary to Government, Finance Department in presence of Zubair Iqbal, Senior Vice President, Sachin Mahajan, Vice President, Parvinder Singh Sudan,Deputy Vice President, HDFC Bank, Senior Officers of the Bank and large gathering of people.

HDFC Bank has rapidly expanded its branch network in Jammu & Kashmir in the past 15 years as well as given a concerted push to its Digital Banking strategy in the state as part of its efforts to deliver its services using multiple technology platforms.

At present, HDFC Bank has 77 branches and 211 ATMs in the state. This journey began with its very first branch in the city, which was set up in 2003.

Since then, it has extensively leveraged technology to provide banking services through a host of digital channels such as net banking and mobile banking. HDFC Bank is today reaching out to an increasing number of people across the state through its branch network complemented by initiatives under its ‘Go Digital’ campaign.

The ‘Go Digital’ campaign began on the banks of the river Ganga in Varanasi 2014, with the launch of its ‘Bank Aap Ki Muththi Mein’ to offer banking services in the mobile phone.

Further, the bank has also launched innovative digital initiatives including Watch banking and PayZapp.

“The milestone achievement is a reflection of the efforts by each and every employee in J&K. The milestone also reiterates our commitment to take formal banking services to every corner of the state and empower more people by offering them our full range of banking services including digital initiatives, even in rural areas, thus making a difference in their lives,” says Mr. Zubair Iqbal, Senior Vice President – J&K, HDFC Bank.

Zubair further said, “we started our Journey in J & K in 2003 with a single minded focus to make difference to the lives of the people and economy of the state. Today we are proud to have increased our Branch network to 77 Branches and 211 ATMs. This large scale expansion has generated direct/indirect employment opportunities to >2000 state subjects. HDFC Bank has today emerged as one of the major employers in private sector in J&K. During same time, we have taken our CD Ratio to 64% which is one of the highest by any bank in J&K with significant contribution in SME (30%), Priority Sector (51%) and agriculture (210).”

Mr Navin Choudhary complimented the HDFC Bank for making its presence felt in the banking industry of the state and contributing to employment generation and economic activity of the state by taking its CD ratio to 64%. He asked the bank to make difference to lives of the people by improving flow of credit to weaker sections of the society.

At a national level, HDFC Bank has 54 per cent of its branches in semi-urban and rural areas and is continuously extending its reach in the hinterland in its endeavor to support inclusive growth.

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