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HDFC Bank Receives Award for Remarkable Contribution towards Rural India

Pronami Chetia
Pronami Chetia

HDFC Bank, India’s leading private sector banking and financial services company has been adjudged as the winner in the 'Innovation and Inclusiveness in Priority Sector Lending' category at the '11th Inclusive Finance India Awards' in the '16th Inclusive Finance Summit' organized in New Delhi. As per reports, Mr. Krishnamurthy Subramanian, Chief Economic Advisor to the Govt. of India, presented the award to Mr. Rajinder Babbar, Business Head, Rural Banking Group, HDFC Bank. The bank received this award in recognition of the Bank's lending to the Priority Sector; catering to the crop production-related credit requirements of the farmers, and innovation in rural lending products and processes.

Moreover, this is the 2nd consecutive year that the bank has been recognized with the honor. Awards were given in categories such as -Innovations and Inclusiveness in Priority Sector Lending -MFOs -Business Correspondents -State Rural Livelihoods Mission for financial Inclusion -SHG lending by banks amongst others.

Moreover, HDFC Bank has a base of 111,208 permanent employees as of 30 September 2019 and recognized as India’s largest private sector lender by assets. It is the largest bank in India by market capitalization as of February 2016, says reports.

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