HDFC Bank, county’s largest private sector lender has disbursed loan to its 1.1 millionth customer under its ‘Grammen Mega Loan Mahotsva,' a rural loan initiative. The bank has conducted loan mela to bring millions of unbanked into the banking fold in this financial year at Gudivada in Krishna district of Andhra Pradesh on March 16, 2012.
The bank has disbursed a variety of loans such as financing for tractors, auto, two-wheelers, commercial vehicles and agriculture in this initiative. Since the launch of the initiative in 2010, bank had reached out to an estimated population of 62 lakh in 5,000 villages, with viable finance products to help them meet credit needs and move into mainstream banking. The entity is aiming to help 10 million families (40 million families) become self-sufficient through its ‘Viable Finance' initiative.
