HDFC Bank crosses 325th branch milestone in Madhya Pradesh
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Chief Minister Shivraj Singh Chauhan inaugurates 20 Branches from Bhopal
100 branches to be added this fiscal; about 1000 jobs to be created
Bhopal, Madhya Pradesh, February 06, 2023: HDFC Bank, India’s largest private sector bank inaugurated its 327th branch in Madhya Pradesh at Shymla Hills, Bhopal. This makes it the first private sector bank in the state to cross the landmark of 325 branches.
Mr. Shivraj Singh Chauhan, the Honourable Chief Minister of Madhya Pradesh, inaugurated the 327th branch in the state, at a function today. A total of 20 branches were inaugurated digitally by the Honourable Chief Minister. Senior HDFC Bank executives including Mr Arvind Vohra, Group Head- Retail Branch Banking and Ms Ashima Bhat, Group Head- Business Finance and Strategy, CSR and ESG, Administration, and Infrastructure joined the launch digitally.
HDFC Bank has already opened 80 branches (including today’s 20) in this financial year and plans to open another 20 branches in the state by March 31, 2023, which allows it to increase its footprint across the metro, urban, semi-urban and rural locations in the state. The 100 new branches opened this fiscal are expected to generate employment for an additional 1,000 people. About half the branches in the country as well as in the state are in semi urban and rural areas.
The new branches are expected to benefit salaried persons, businesspeople, traders, and Government Departments. Overall, 1 lakh people in Madhya Pradesh are expected to gain from this.
“We are delighted to participate in Madhya Pradesh’s growth story. Through our increasing branch network and other initiatives, we plan to contribute to the prosperity of the people of Madhya Pradesh. We believe that we can especially help in the progress of the agriculture sector as about half our branches are in the semi-urban and rural areas,” Mr. Prateek Sharma, Branch Banking Head Central India HDFC Bank said.
HDFC Bank’s journey in Madhya Pradesh began in the year 1999 with the opening of its first branch at Trade House, Indore. The Bank lends to a host of sectors including agriculture, MSME’s and renewable energy. It has a strong retail portfolio comprising car loans, two-wheeler loans, consumer durable loans, personal loans, and credit cards.
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