HDFC Bank has drawn up ambitious plans for Chhattisgarh with a target to double its branch network from the current 37 to 70 by March 2014.
“We are looking at Chhattisgarh as a key market with plans to open a total of 30 branches particularly in rural areas of the State by March 2014,” Amit Kumar, Senior Executive vice president and Head of Branch Banking, HDFC Bank said in a news conference here on Thursday.
He said that the bulk of the bank’s current expansion plans in Chhattisgarh would be focussed around rural areas.
Kumar said that the bank’s ‘Financial literacy Programme’ would cover a total of 230 villages in Chhattisgarh. “The Bank would appoint ‘Business Correspondents’ in the villages who will be in touch with the nearest HDFC Bank branch.”
Three years ago, the number of HDFC Bank branches in Chhattisgarh was 12 which had now risen to 37 in the State, he said.
All the bank’s branches are linked on an online real-time basis with a focus on semi urban and rural centres. The bank had been focusing on sustainable livelihood initiative and is growing at 30 to 40 per cent Year-on-Year.
Sunil Panjwani, vice president and Circle Head, Madhya Pradesh and Chhattisgarh, HDFC Bank said that the bank currently has a total of 61 ATMs operational in Chhattisgarh with the plans to double their numbers by March 2014.