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Monday, September 2, 2013

HDFC Bank launches rural financial literacy initiative in Gujarat

HDFC Bank Ltd on Monday launched its rural financial literacy initiative in Koteshwar village near here under the aegis of the Reserve Bank of India, becoming the first bank to translate curriculum into Gujarati language.

Under the initiative, it will conduct literacy camps at 68 branches across 136 villages, reaching out to both adults and school children in the State. It complements HDFC Bank’s efforts to support inclusive growth and take formal banking services to the remote corners of India.

Through this initiative, the bank will conduct a series of three literacy camps in every village, and each rural branch will hold this programme in two neighbouring villages over the next year. These camps will give participants a conceptual understanding of financial products and services using material provided by the RBI. HDFC Bank will use the financial literacy guide and posters as standard curriculum at these camps.

HDFC Bank has a board-mandated objective to bring 10 million families (40 million Indians) into the banking fold, said Ravi Narayanan, Regional Branch Banking Head, HDFC Bank.

HDFC Bank now has 270 branches in Gujarat, of which 71 are located in rural areas and an additional 100 are located in semi-urban areas. Across India, 53 per cent of all branches in its network are located in semi-urban and rural areas. As of June 30, the bank had a national distribution network of 3,119 branches and 11,088 ATMs in 1,891 cities/towns.

Source: thehindubusinessline


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