The largest private sector lender HDFC Bank on Wednesday inaugurated a branch in Lakshadweep’s Kavaratti island. The bank is the only private sector lender to have a presence in Lakshadweep, according to a statement.
The bank seeks to serve customers wherever they are and looks forward to serving the financial needs of individuals, families, and businesses in Lakshadweep, the bank’s retail branch banking group head S Sampathkumar said. The branch was inaugurated by Captain Lovekesh Thakur, Commanding Officer, Indian Navy and K P Muthukoya, a well-known resident, in the presence of bank officials, the statement said.
This branch is aimed at upgrading the banking infrastructure in the Union Territory by offering a wide range of services with a focus on personal banking, and digital banking which also includes customised digital solutions including QR-based transaction to retailers.
HDFC Bank has branches in the cold climes of Kashmir, the southern tip of Kanyakumari and now the island of Lakshadweep – a prominent tourist place.
As of December 31, 2023, the HDFC Bank’s distribution network was at 8,091 branches and 20,688 ATMs across 3,872 cities or towns as against 7,183 branches and 19,007 ATMs across 3,552 cities or towns as of December 31, 2022.
About 52 per cent of its branches are in semi-urban and rural areas.
(With inputs from agencies)
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