HDFC Bank to hold thousand Grameen loan melas for easy access to agri, tractor, auto loans

Private sector lender HDFC Bank today announced that it will organise 1,000 Grameen Loan Melas in villages over the next 6 months across the country. These Grameen Loan Mela (or village loan fairs) will be held across more than 300 districts and cover around 6,000 villages across India, the bank said in a statement. Just like a traditional village fair, the Grameen Loan Mela will be a one-stop shop for people from the surrounding five-six villages to access the entire range of the bank’s products.

Local residents can avail of tractor loans, auto loans, two-wheeler loans, agri loans, commercial vehicle loans, or open Current and Savings Accounts. They can also avail of consumer durable loans at no-extra cost EMI, the bank said. HDFC Bank will also offer business loans and emerging enterprise loans to small traders and shopkeepers. Furthermore, self-help groups (SHGs) can avail of finance through the bank’s Sustainable Livelihood Initiative (SLI).

The Grameen Loan Mela will also serve as a platform to educate the local populace about banking services. Services like Missed Call Banking which allows customers to complete basic banking transactions such as checking account balance, ordering a cheque book etc by dialing a toll-free number, will be showcased at the melas, it said.

 “We want to take banking products to the doorstep of every Indian. Grameen Loan Melas allow us to do just that, taking HDFC Bank's entire range of products and services across the length and breadth of the country, particularly in rural India. These Loan Melas will be supported by our network of 5000+ branches, over half of which are in rural and semi urban areas," said Arvind Vohra, Country Head, Branch Banking, HDFC Bank.

The bank said that these initiatives will help fulfil the changing aspirations of customers in rural India, bring prosperity to their homes and boost the rural economy.