Shimla: Private banker HDFC by opening a 3 member, mini branch in an unbanked village, now has 50 branches in Himachal Pradesh.
The branch in Kishan Pura village of Solan district was earlier in the day inaugurated by Mr Yunus, the Sub-divisional magistrate of Nalagarh.
Present on the occasion were Mr. Jasjeet Katial, Circle Head, HDFC Bank, Mr. Jasmeet Madan, Cluster Head, HDFC Bank and other senior officials of the bank.
The new branch will cater to alocal population of about 1,400 in and around Kishan Pura, on the Baddi-Nalagarh road, the bank in a communique stated here.
With launch of this branch, the Bank claims to now have about 94% of its network in located in semi-urban and rural areas of the state.
A mini branch is one of the new-format branch models introduced by the Bank, to take formal banking services to people in unbanked and under banked areas.
The mini branch is designed to be cost-effective by maximizing efficiency of space, infrastructure, technology and processes.
The product range at a mini branch is comparable to that in a traditional branch and the three members are available to provide customers an array of services.
The three-person branch works closely with the nearest large branch, operating as hub and spoke to cater to a particular geography and ensure that all products and services are made available to customers.