-6.30 (-0.67%) HDFC Bank has expanded its physical distribution network in the Northeast, crossing the 100th branch milestone in the region. With the launch of 16 new branches in FY2015-16, the Bank now has 109 branches in total in the seven states of Northeast, making it one of the leading private sector banks. Of the 109 branches, 55 are located in Assam. The expansion of its branch network across Northeast is part of the Bank's Board driven mandate to take banking services to the remote corners of the country. More than 50 per cent of the branches in the Northeast are located in semi-urban and rural areas.
The physical distribution network is complemented by the digital banking initiatives, which make it easier for customers to bank anywhere, anytime using Net banking, Mobile app, and ATMs. Customers can perform over 205 different types of transactions on Net Banking, 85 plus on Mobile app and take loans at ATMs. The Bank is also reaching out to people of the region through its Sustainable Livelihood Initiative (SLI). It is a holistic approach that empowers women, particularly those at the bottom of the pyramid by providing not just credit, but also vocational training, financial literacy, and market linkages.