HDFC Bank Scores Half Century in J&K

KL Desk

Srinagar

Taking its branch network to 50, HDFC, the largest private sector bank in Jammu & Kashmir on Friday inaugurated another business unit at  Alamgari Bazar, Srinagar.

Inaugurated by Senior PDP leader and MLA Pattan, Molvi Iftikhar Hussain Ansari, the function was attended by senior officials and people from the locality.

With country wide network of 2630 branches and 10340 ATMSs as on September 30, HDFC has now 50 branches and 135 ATMs in state.

Molvi Iftikhar Hussain Ansari accompanied by vice president HDFC inaugurating the HDFC branch in Srinagar

The new branch according to officials will offer customers world-class banking services under one roof ranging from basic services such as savings account, fixed deposits, current account, mutual funds, insurance, two-wheeler loan, auto loans, business loans, loan against property, loan against gold to sophisticated direct access banking channels such as ATM, phone banking, net banking and international credit and debit cards.

Speaking on the occasion, Molvi Iftikhar Hussain Ansari appreciated the functioning of HDFC bank and its services. He further said large scale expansion taken up by HDFC Bank in the state has created lot of job avenues for the unemployed youth and also created competitive environment in the banking industry which has helped the common people to choose the banker of their choice.

Molvi Iftikhar expressed hope that HDFC Bank will liberalize its lending policies in the state so that common people will get benefited.

Stating importance of HDFC bank in banking sector of state, Zubair Iqbal, Vice President, HDFC Bank while speaking on the occasion said, “HDFC Bank now occupies an important place in the banking arena of the state and has become a vehicle of economic growth. We are proud to take our branch network to 50. I thank my staff at all levels for their untiring efforts to make this happen. I’ll also like to put on record appreciation for our customers who reposed trust in us and are indispensable part of HDFC Bank family in J&K.”

“In a short span of time, we have taken our CD Ratio to 37 per cent and contemplate to take it to 40 per cent by end of March. As a leading bank of the country, we are committed to taking world-class banking to the hinterland. With a comprehensive branch network across the country and a bouquet of products for every customer category, we believe that we can make a difference to the lives of the people of J&K,” Zubair added.

Bank which started its operations in 2003 is expected to have more 10 branches and 30 ATMs by March 2013. According to fugures revealed, the bank has given employment to more thyan thousand youth of state.

“The expansion will further bring the convenience and comfort of modern day banking at the doorsteps of our customers in rural & semi – urban areas as we have expanded to far flung area like Leh, Kargil, Poonch, Doda, Rajouri, Baderwah,  Handwara,Kathua, Katra, Kulgam to name few,” said Zubair.

Expanding its horizon bank has tied up with The Business School, University of Kashmir, University of Jammu and Mata Visho Devi University to initiate a Joint Certification Program to train and equip its students with skills essential for the Banking sector.

“This initiative creates a ready talent pool to cater to the requirements of banking and financial institutions. In return, students garner specialised skills to meet the expectations of potential employers and familiarize themselves with the operations of banking and financial institutions. Bank is also holding campus recruitment every year at these universities and recruits good number of students from these universities,” said Zubair.

Talking about bank’s corporate social responsibility initiatives Zubair said that bank also is taking part in CSR initiatives in the state.

“Bank extended financial assistance of Rs 8.80 lacs to Chotay taray Foundation in Srinagar. This initiative helped the organisation to arrange for special education, treatment and vocational training for 60 children with multiple disabilities,” Zubair said.

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