HDFC Bank, the country’s largest private sector lender, has decided to hire 500 additional relationship managers during the current financial year to expand its reach in the MSME sector.
With these appointments, the total staff strength in the Bank’s Micro, Small and Medium Enterprises (MSME) branch will go up to 2,500. Also Read: Alert! Link Aadhaar with PF-UAN by September 1 or else there will be trouble
Bank’s MSME branch reaches 545 districts
Presently the Bank’s MSME branch has a reach of 545 districts with its Liaison Managers and Inspectors. By the end of the current financial year, this reach will increase to at least 575 districts. Sumant Rampal, senior executive vice president, banking business and Also Read: Indian Railways: Change Reservation rules, Now change the date of travel without canceling the ticket
Health care finance, told PTI on Monday, “We are expanding our MSME reach from 545 to 575 districts. In such a situation, in the current financial year, more than 500 people are being appointed in the MSME branch. This should take the total number of employees in this branch to a little over 2,500. Also Read: BSNL Great Plan: Get 36GB data and free calling for just Rs 97, you will get many benefits
After including wholesaler and retail loans under MSME head, the bank’s MSME loan account grew marginally to Rs 2,01,833 crore in March 2021 quarter from Rs 2,01,758 crore in December 2020. Rampal said the bank’s MSME portfolio is spread across sectors such as textiles, construction, agro-processing, chemicals, consumer goods, Also Read: Good news for 6.5 crore PF account holders! 8.5% interest money will be credited in the account soon, know what EPFO said
Hotels and restaurants, auto parts, pharma and paper industries and includes wholesalers, retailers, distributors and stockists. Huh. The bank has been paying special attention to this sector for the last two years and the growth of the sector has been accelerated by the government’s increase in credit facilities for small traders after the pandemic.
