HDFC Bank Organises Grameen Loan Mela in Kalaburagi, Karnataka

HDFC Bank Organises Grameen Loan Mela in Kalaburagi, Karnataka

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HDFC Bank Organises Grameen Loan Mela in Kalaburagi, Karnataka

· The initiative in north Karnataka would benefit small and marginal farmers, FPOs and agri start-ups, among others

· Bank targets reaching out to over 20,000 people in semi-urban and rural belt

Kalaburagi, July 21, 2023: HDFC Bank, India’s leading private sector bank, today organised a Grameen Loan Mela at Kalaburagi district in Karnataka. Among the biggest such events ever in north Karnataka, the Grameen Loan Mela was attended by over 6,000 people, including small and marginal farmers, traders, Farmer Producer Organisations, agri start-ups, small agricultural entrepreneurs, transporters, shopkeepers, healthcare enterprises, and MSMEs from more than 500 villages.

Organised by the Commercial and Rural Banking Group of the Bank, the mela gave a chance to potential customers to learn about the Bank’s products and services, including finance options like agriculture finance, healthcare finance, construction vehicle finance, commercial equipment finance, etc. In addition to this, the mela provided further information on working capital loans, term loans, letters of credit, and bank guarantees for MSMEs. Ms. Fouzia Taranum, IAS, Deputy Commissioner and District Magistrate, Kalaburagi graced the occasion as chief guest. The event was inaugurated by Mr. Rahul Shyam Shukla, Group Head – Commercial and Rural Banking, HDFC Bank.

“Currently, 52% of HDFC Bank’s branches are in semi-urban and rural areas while 38% of our loan book caters to commercial and rural borrowers. The Grameen Loan Mela is an initiative on our part to expand credit outreach in rural areas. We have been running loan melas across the length and breadth of the country to provide finance opportunities in the hinterland as well. Our target is to support farmers, small and micro businesses, especially in the semi-urban and rural areas, to get them inducted into a formal banking system,” said Mr. Rahul Shyam Shukla, Group Head, Commercial and Rural Banking, HDFC Bank.

Besides, since 2023 has been dedicated as the International Year of Millets, HDFC Bank has given special attention to millet farmers in the region of Kalaburagi. "Farmers from Kalaburagi district have set an example for others in cultivating millets. We are happy to collaborate with

them as their preferred banking partner, in positioning India as the global hub of millets as part of the International Year of Millets,” added Mr Shukla.

In Karnataka, the Bank’s distribution network stands at 448 branches spread across 180 locations, backed up by a business correspondent network of 384 people. As per the latest State Level Bankers Committee report, HDFC Bank is the third largest MSME bank in Karnataka, with a total MSME book size of Rs. 15,151 crore as on March 31, 2023, which is a growth of 44% over the previous year. The Bank extends credit to SMEs in 688 districts across the country and is working towards providing agricultural finance to nearly 2.5 lakh villages across India.

Earlier this year, the Bank organised Grameen Loan Melas in Jhansi, Uttar Pradesh; Eluru, Andhra Pradesh; and Burdwan, West Bengal.

As of June 30, 2023, the Bank’s distribution network throughout the country stood at 7,860 branches and 20,352 ATMs / cash deposit & withdrawal machines across 3,825 cities / towns. Over half its branches are in the semi-urban and rural areas. In addition, the Bank has 15,194 business correspondents, primarily manned by common service centres, which take its offerings to the deeper geographies.

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