The chances for village level entrepreneurs to expand themselves are minimal. The methods to avail credit are often beyond their reach. The festive offers of HDFC bank are focused on the semi-urban and rural markets.
The bank will aim for a personalized and customized scheme for rural areas. The idea that one size fits for all just cannot be applied in terms of loans.
HDFC bank makes a move to enhance credit growth in rural areas
They are acknowledging the fact that 60% of people live in rural and semi-urban areas. The HDFC bank has taken the initiative to make their facilities accessible. Our society is full of people from diverse economic needs, and their needs differ.
The network for village entrepreneurs: For this scheme, the bank will work on a network that includes 1.2 lakh, village-level entrepreneurs.
Great deals on banking products: One of the most attractive features of this scheme is that the customers get amazing deals on every banking product. This offer is valid for anything from banking products to financial loans, including tractor loans, car loans, tractor loans, etc. The customers get up to 15% off on various products.
Financial empowerment of rural areas: It is impossible to financially empower the country without bringing these schemes to these areas. It is essential to establish networks to reach out to a broader public who can avail of the benefits of the schemes.
Special deals: There will be attractive discounts for various loan-related steps. The processing fee, the rate of interest will all be modified to suit the needs of the rural population in the best way possible. There is zero processing fee for the two-wheeler loans up to 25% in the first few months. The Kissan Gold loan is available with a 50% off.
It can be said that the scheme can be a tool to make the inequality in the economic sphere less prominent. Huge economic differences can lead to the exploitation of certain sects of people. Therefore, we need to empower the people of the society who are not much in the spotlight; schemes have to be designed to bring them out of their economic issues and ensure their standards of living. Therefore, festive offers can bring about a significant impact on the lives of the people.