INSUBCONTINENT EXCLUSIVE:
HDFC Bank and India Post Payments Bank have inked a pact to connect to rural customersNew Delhi: HDFC Bank has entered into a pact with
India Post Payments Bank (IPPB) to extend its reach to semi-urban and rural areas and accommodate the latter's more than 4 crore client base
About 90 per cent of IPPB clients live in backwoods, which may take advantage of this tie-up
HDFC Bank said the strategic alliance will make it possible for IPPB to supply cost effective and varied offerings, including access to
finance, to its consumers through its innovative doorstep banking service.With almost 2 lakh postal service providers (postmen and gramin
dak sevaks) geared up with micro ATMs and biometric devices, IPPB deals with the needs and requirements of various client segments.With this
collaboration, HDFC Bank aims to further enhance its monetary addition drive by leveraging the robust and extensive circulation network of
IPPB's 650 branches and over 136,000 banking gain access to points across India, it stated in a statement on Monday
By bringing banking at the doorsteps of customers, IPPB is gradually changing and improving the monetary inclusion landscape throughout the
Our endeavour is to develop a unified platform offering various citizen-centric services, including credit, at the doorstep by leveraging
digital innovations and alternate information sources in collaboration with providing partners, J Venkatramu, Handling Director and CEO,
India Post Payments Bank, said.The private sector loan provider said it is a significant tie-up for HDFC Bank as it will help expand its
client outreach to the last mile.
