As farm sector gains importance, HDFC Bank reworks strategy for rural areas

The State Bank of India has also created a separate business vertical to focus on financial inclusion and micro-markets (FI&MM) in semi-urban and rural areas

With farm sector becoming key sector for economic growth, HDFC Bank is reworking business strategy for rural area and adding 100,000 village level entrepreneurs (VLEs) to push products such as gold loan, personal loan and loan against property.

The country’s largest private sector lender has commenced work on the rural phase of ‘Summer Treats’, a plan that attempts to meet the changing needs of merchants, salaried and self-employed customers. Both retail as well as business customers can avail of discounts on processing fees for loans, and reduced EMIs.
 

Efforts to curb the spread of Covid-19 have changed consumer lifestyles and demands.