HDFC entered the remote Himalayan district of Ladakh by opening its first bank branch in Leh town of Jammu and Kashmir on Thursday, a company official said.
“It claims to be the first private bank to open a branch in Ladakh. The branch was inaugurated by Abdul Rahim ,minister of finance, Jammu and Kashmir,” said Navin Puri country head branch banking HDFC bank in a statement.
At 10,500 feets above sea level, this is one of the highest bank branches in the world. Covering an expanse of 45,110 sq km, Ladakh is one of the largest districts in India with a population largely dependent on agriculture and tourism.
With its footprint in Leh, HDFC will hope to play a key role in the process of financial inclusion by providing credit and other top-notch financial instruments to the locals in a customised way.
The bank plans to open several branches in Jammu and Kashmir by the end of this year , officials added.