OREANDA-NEWS. March 24, 2011. HDFC Bank, the country's second largest private bank, held a Mega Loan Mahotsava at Kakinada in Andhra Pradesh.

Kakinada, located in East Godavari Dist. in Andhra Pradesh, is one of the major producers of rice, sugarcane and pulses.

At the Gramin Loan Mahotsava in Kakinada, 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, kisan cards were given to rural customers. Three day loan Mahotsavas were also held in the nearby locations of Kumarapaleyam, Anaparthy, Amalapuram and Mandapeta.

HDFC Bank kick-started the Mega Loan Mahotsava under the bank's New Rural Campaign in July 2010 at Pimpalgaon near Nasik in Maharashtra. The Bank is holding a total of 150 Gramin Loan Mahotsavas, small and big, across the country. The states include Gujarat, Maharashtra, Rajasthan, Andhra Pradesh, Karnataka, Tamil Nadu, Orissa, West Bengal and Punjab.

At the Loan Mahotsava in Kakinada, vehicle keys and kisan cards were handed over to customers by Mr. Ashok Khanna, Sr. Executive Vice President & Business Head, Vehicle Loans, HDFC Bank, Mr. Rajan Pental, Executive Vice President & Business Manager, Auto Loans, HDFC Bank, Mr. C.S. Gopinath, Senior Vice President & Regional Head, Branch Banking, HDFC Bank. Amongst the dignitaries present were Mr. B. Madhav Rao, Social Activist and Ex Director, Infosys Technologies Ltd, Mr. N. Murali, Executive Director, NSC Group of Companies and Mr. M.S. Prasad, Managing Director, Sri Lalita Industries.

Mr. Pralay Mondal, Country Head, Retail Assets, HDFC Bank from Mumbai said, "Welcome changes are sweeping across India, especially rural India. We are a major financial intermediary in the country today, and it is our earnest endeavor to make a difference to the lives of people residing there by reaching out to them. We are committed to partnering our customers in their journey of progress."

Mr. Ashok Khanna said, "Rural India has witnessed remarkable transformation over the past two decades that I've been travelling to these markets. 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."