• Source:PTI
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HDFC Bank:  India's biggest private sector lender HDFC Bank on Wednesday opened a branch in Lakshadweep's Kavaratti island. According to a statement, the bank is the only private-sector lender to have a presence in Lakshadweep. The bank aims to serve customers wherever they are and looks forward to meeting the financial requirements of people, families, and organizations in Lakshadweep, according to the bank's retail branch banking group head S Sampathkumar.

The branch was inaugurated by Captain Lovekesh Thakur, Commanding Officer, Indian Navy, and K P Muthukoya, a prominent resident, in the presence of bank officials, according to the statement.

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The division aims to upgrade the banking infrastructure in the Union Territory by providing a wide range of services with a focus on digital banking, which includes customized digital solutions like personal banking and QR-based transactions for retailers. HDFC Bank has branches in the cool climate of Kashmir, the southern tip of Kanyakumari, and now the island of Lakshadweep, a popular tourist destination.

As of December 31, 2023, HDFC Bank has a distribution network of 8,091 branches and 20,688 ATMs in 3,872 cities or towns.  It had 7,183 branches and 19,007 ATMs in 3,552 cities or towns till December 2022, the number has increased drastically. About 52% of its branches are located in semi-urban and rural areas.

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(With PTI's Input)