OREANDA-NEWS. HDFC Bank Ltd today reached an important milestone of 300 branches in Gujarat with the launch of 2-member mini-branch in the village of Jamiyatpura in Gandhinagar district of Gujarat.

The new branch is a rural mini-branch serviced by two members, and it will cater to the local population of around 3,500 in and around Jamiyatpura. The Bank now has about 65% of its network dedicated to semi-urban and rural areas of Gujarat.

A mini branch is one of the new-format branch models introduced by the Bank, to take formal banking services to people in unbanked and underbanked areas. It enhances the Bank's efforts towards achieving its financial inclusion goal. The Bank has a board mandated objective to bring 10 million families (50 million Indians) into the banking fold.

The mini branch is designed to be cost-effective by maximizing efficiency of space, infrastructure, technology and processes. The product range at a mini branch is comparable to that in a traditional branch and the two members are available to provide customers an array of services. The two-person branch works closely with the nearest large branch, operating as hub and spoke to cater to a particular geography and ensure that all products and services are made available to customers.

The branch in Jamiyatpura was inaugurated by Mr P. Swaroop, IAS Collector and District Magistrate, Gandhinagar, in the presence of Mr Ravi Narayanan, Branch Banking Head, HDFC Bank, Mr. Thomson Jose, Zonal Head, HDFC Bank and other senior officials of the bank.

Speaking about the milestone, Mr. Ravi Narayanan, Branch Banking Head - West, HDFC Bank said: “Our extensive 300-branch network in Gujarat reiterates our commitment to take formal banking services to every part of the state, particularly the unbanked and under-banked areas. Our objective is to offer the full range of banking services, even in rural areas, thus empowering and make a difference in the lives of people in these areas. At a national level, the Bank has 53% of its branches in semi-urban and rural areas and is continuously extending its reach in the hinterland in its endeavour to support inclusive growth.”

Speaking at the launch, Mr. Thomson Jose, Zonal Head, HDFC Bank said, “The journey to reach the 300th branch milestone in Gujarat has been extremely fulfilling, right since the launch of our first branch in Navrangpura in 1996. As we expand into deeper geographies, we are happy to serve the local populace and look forward to bringing a whole new world of convenience and services to customers across the state.”

The Bank has made significant headway in its multichannel servicing strategy in Gujarat, providing customers the use of its complete range of products and services. It offers, under one roof, products ranging from basic services such as Savings Account, Fixed Deposits, Current Account, Two-wheeler loan, Auto loan, Commercial Vehicle Loan, Kisan Gold Card, Agri and Commodities Loans to direct access banking channels such as, PhoneBanking, NetBanking and International Credit and Debit Cards.

As of September 30, 2013, the Bank had a distribution network with 3,251 branches and 11,177 ATMs in 2022 cities/towns. At a national level, the Bank has 53% of its branches in semi-urban and rural areas and is continuously extending its reach in the hinterland in its endeavour to support inclusive growth.