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HDFC Bank enters in pact with IOC for banking services in rural areas

, October 4, 2012, 0 Comments

Private Sector banking major, HDFC Bank,  has entered into a pact with Indian Oil Corp to provide banking facilities in semi-urban and rural areas through the latter’s rural petrol pump outlets ‘Kisan Seva Kendras‘.

“Beginning with Pilibhit, HDFC Bank plans to cover 1,000 KSKs (Kisan Seva Kendras) in a phased manner and each of these outlets will be able to serve around 1,500 customers.

Kisan Seva Kendras will act as HDFC Bank’s business correspondents.

These outlets will offer banking services such as preliminary processing of loan applications, disbursal, and collection of small value deposits, sale of micro-insurance, mutual funds, and other investment instruments.

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