HDFC Becomes First Private Bank To Open A Branch In Lakshadweep's Kavaratti

This new branch is designed to improve the banking facilities in the Union Territory by providing a diverse range of services, with a particular emphasis on personal banking and digital banking.

HDFC Becomes First Private Bank To Open A Branch In Lakshadweep's Kavaratti

The private lender HDFC Bank launched a branch in Kavaratti, Lakshadweep as the only private sector lender presence, on Wednesday, according to a statement.

This new branch is designed to improve the banking facilities in the Union Territory by providing a diverse range of services, with a particular emphasis on personal banking and digital banking. This will include tailored digital solutions, such as QR-based transactions, for retailers. In addition to this, HDFC Bank has branches in the cold climates of Kashmir, the southern tip of Kanyakumari, and now the island of Lakshadweep – a prominent tourist place.

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As of December 31, 2023, the HDFC Bank's distribution network was at 8,091 branches and 20,688 ATMs across 3,872 cities or towns as against 7,183 branches and 19,007 ATMs across 3,552 cities or towns as of December 31, 2022, where 52 percent of its branches are in semi-urban and rural areas.

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The bank seeks to serve customers wherever they are and looks forward to serving the financial needs of individuals, families, and businesses in Lakshadweep, the bank's retail branch banking group head S Sampathkumar said.

The branch was inaugurated by Captain Lovekesh Thakur, Commanding Officer, Indian Navy, and K P Muthukoya, a well-known resident, in the presence of bank officials.

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