HDFC Bank Ltd.

HDFC Bank has organized its 300th Grameen Mega Loan Mahotsava for the fiscal at Gudivada, in Krishna district of Andhra Pradesh on March 16, 2012. This is the part of the bank’s initiative to bring millions of unbanked into the banking fold. Overall, this was also the 501st Loan Mahotsava hosted by the bank in the last two years and 150th in South India. The bank has held such Mahotsavas across all major states of the country.

In July 2010, HDFC Bank had launched the Grameen Mega Loan Mahotsava as part of its Board approved mandate to help 10 million families (40 million families) becomes self-sufficient through its viable finance initiative. Typically at a Mahotsava, the bank disburses a variety of loans such as financing for tractors, auto, two-wheelers, commercial vehicles and agriculture. Till now, through this unique initiative, HDFC Bank has reached out to an estimated population of 62 lakh in 5000 villages with viable finance products that help them meet credit needs and move into mainstream banking.

At the Grameen Mega Loan Mahotsava in Gudivada, loans for all the above-mentioned products along with funding for pisciculture and no-frills accounts were also offered.