HDFC Bank to hold 1,000 Grameen Loan Melas

HDFC Bank CSR initiative

HDFC Bank offer full range of products across 6,000 villages.

HDFC Bank announced its plan to organize 1,000 Grameen Loan Melas over the next 6 months. These Grameen Loan Melas (or village loan fairs) will be held across more than 300 districts and cover around 6,000 villages across India.

Just like a traditional village fair, the Grameen Loan Mela will be a one-stop shop for people from the surrounding 5 or 6 villages to access the entire range of the bank’s products. Local residents can avail of tractor loans, auto loans, two-wheeler loans, agri loans, commercial vehicle loans, or open Current or Savings Accounts. They can also avail of consumer durable loans at No Extra Cost EMI.

HDFC Bank will also offer Business Loans and Emerging Enterprise Loans to small traders and shopkeepers. Furthermore, Self Help Groups (SHGs) can avail of finance through the Bank’s Sustainable Livelihood Initiative (SLI).

The Grameen Loan Mela will also serve as a platform to educate the local populace about banking services. Services like Missed Call Banking which allow customers to complete basic banking transactions such as checking account balance, ordering a cheque book etc by dialling a toll free number, will be showcased at the melas.

“We want to take banking products to the doorstep of every Indian. Grameen Loan Melas allow us to do just that, taking HDFC Bank’s entire range of products and services across the length and breadth of the country, particularly in rural India. These Loan Melas will be supported by our network of 5000+ branches, over half of which are in rural and semi urban areas. We believe initiatives such as these will help fulfil the changing aspirations of customers in rural India, bring prosperity to their homes and boost the rural economy,” said Arvind Vohra, Country Head, Branch Banking, HDFC Bank.

This is yet another effort by the Bank to bridge the divide between Urban and Rural India. Through its all women Sustainable Livelihood Initiative (SLI) it has already enabled 96.7 lakh women to break out of poverty by first skilling them and then financing them. Also through its partnership with the CSC e-Governance Services India Ltd, it is leveraging the strength of over lakhs of village level entrepreneurs (VLEs) to take its banking services to the nook and corner of India.