HDFC Bank, the second largest private bank in the country, conducted its 150th Mega Loan Mahotsava at Dausa, in Rajasthan. The 1-day mela was the concluding event in the series of 150 Loan Mahotsavas, across the country.
At the Gramin Loan Mahotsava in Dausa, which is amongst the largest of such events ever held in the district, a variety of loans such as auto loans and 2 wheeler loans, commercial vehicle loans were given to rural customers. Three day loan Mahotsavas were also held in the nearby locations of Kanota, Bassi and Baskoh.
At the Loan Mela, vehicle keys were handed over to customers by Mr. Ashok Khanna, Sr. Executive Vice President & Business Head, Vehicle Loans, HDFC Bank and Mr. Rajan Pental, Executive Vice President & Business Manager, Auto Loans, HDFC Bank. Amongst dignitaries present on the dais were Mr. R.S. Jakhar, Collector, Dausa, Mr. Sunil Rawat, Industrialist, Mr. Rakesh Choudhary, President, Krishi Mandi, Dausa and Mr. Jugal Singh, President Rotary Club, Dausa.
HDFC Bank kick-started the Mega Loan Mahotsava under the bank's New Rural Campaign in July 2010 at Pimpalgaon near Nasik in Maharashtra. Within nine months the Loan Mahotsava travelled to remotest regions from Dhamteri, Behrampore, Jajpur, Sibsagar in the East to Chomu, Hoshiarpur, Tarn Taran in the North to Gondal, Palghar, Karjan in the West and to Bhimavaram, Guntur, Thiruvarur in the South. Thousands of customers benefited from a variety of loans – auto, 2-wheeler, commercial vehicle, tractor, agriculture and kisan card.
Mr. Pralay Mondal, Country Head, Retail Assets, HDFC Bank, from Mumbai said, “Today as we conclude our Gramin Mela campaign at Dausa, it's gratifying to know that we have achieved, in a large measure, what we set out to - help people profit from the wave of prosperity blowing across rural-India (Bharat). It's been a wonderful and satisfying journey, and Dausa is just a beginning and is sure to give us the confidence to play an even more meaningful role in rural India as we go along.”
Mr. Ashok Khanna said, "Rural India has witnessed remarkable transformation over the past two decades. Thanks to a host of factors, better realization for their produce being the primary one, it has helped convert rural India into a huge consumer market. Hence the scope for banks to do business will see new markets opening up and new demand being generated. Our Gramin Loan Mahotsavas have helped the rural population fulfill their long standing dreams of prosperity and growth.”
About HDFC BANK
Promoted in 1995 by Housing Development Finance Corporation (HDFC), India's leading housing finance company, HDFC Bank is one of India's premier banks providing a wide range of financial products and services to its over 18 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking. Within a relatively short span of time, the bank has emerged as a leading player in retail banking, wholesale banking, and treasury operations, its three principal business segments.
The bank’s competitive strength clearly lies in the use of technology and the ability to deliver world-class service with rapid response time. Over the last 13 years, the bank has successfully gained market share in its target customer franchises while maintaining healthy profitability and asset quality.
As of December 31, 2010, the Bank had a distribution network with 1,780 branches and 5,121 ATMs in 833 cities.
For the quarter ended December 31, 2010, the Bank’s total income was INR 63.57 billion (Rs 6,357.8 crore) as against INR 49.34 billion (Rs 4,933.9 crore) for the quarter ended December 31, 2009. Net revenues (net interest income plus other income) were INR 39.04 billion (Rs 3,904.5 crore) for the quarter ended December 31, 2010, an increase of 25.0% over INR 31.23 billion (Rs 3,123.0 crore) for the corresponding quarter of the previous year. Net Profit for the quarter ended December 31, 2010 was INR 10.87 billion (Rs 1087.8 crore), up by 32.9% over the corresponding quarter ended December 31, 2010.
The Bank’s total balance sheet size increased by 22.1% to INR 2498.20 billion (Rs 249,820.0 crore) as of December 31, 2010. Total deposits were INR 1922.02 billion (Rs 192,202.0 crore), up by 24.2% over December 31, 2009.
Total income for the year ended March 31, 2010 were INR 199.80 billion (Rs 19980.5 crore).
Leading Indian and international publications have recognized the bank for its performance and quality.
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