In line with further opening of allocation of Government business to Private Sector Banks by the Department of Financial Services, the Ministry of Defence has allowed HDFC Bank to provide financial services in overseas procurement done by the department. The bank will provide Letter of Credit (LC) and direct bank transfer business for overseas procurement by the defence ministry. Until now, only authorised public sector banks were allowed to provide these services to the defence ministry.
HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.
