HDFC Bank, the largest private sector lender, opened a branch in Lakshadweep’s Kavaratti Island on Wednesday.
According to a release, the bank will be the first private sector lender to establish a presence in Lakshadweep.
Senior Navy officer Captain Lovekesh Thakur and notable local resident Dr K P Muthukoya opened the branch office. S Sampathkumar, Group Head- Retail Branch Banking, HDFC Bank; Mr Sanjeev Kumar, Branch Banking Head, Tamil Nadu, Kerala, and Puducherry; and other local dignitaries attended the ceremony.
According to a press release from HDFC Bank, this branch intends to strengthen the Union Territory’s banking infrastructure by providing a diverse variety of services, with a focus on personal banking and digital banking. The bank’s digital solutions will include QR-based transactions for retailers, among other offerings.
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S Sampathkumar, Group Head- Retail Branch Banking, expressed excitement about the branch’s launch, stating, “HDFC Bank has branches in the cold climes of Kashmir, the southern tip of Kanyakumari, and now the island of Lakshadweep. We look forward to serving the financial needs of individuals, families, and businesses in Lakshadweep, becoming a trusted partner in their financial journey, and contributing to the overall development of the island.”
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