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HDFC becomes first private bank to open branch in Lakshadweep

Published on April 11, 2024
Current Context: HDFC Bank has indeed become the first private bank to open a branch in Lakshadweep on 10th April 2024.
HDFC becomes first private bank to open branch in Lakshadweep
  • The branch was opened at Kavaratti Island, which is a prominent tourist place.
  • This move is aimed at upgrading the banking infrastructure in the Union Territory by offering a wide range of services with a focus on personal banking, and digital banking.
  • This includes customised digital solutions including QR-based transactions for retailers.
  • HDFC Bank’s Group Head of Retail Branch Banking, S Sampathkumar, stated that this reaffirms their commitment to serving customers wherever they are in an extremely convenient fashion.
  • He also expressed their eagerness to serve the financial needs of individuals, families, and businesses in Lakshadweep and contribute to the overall development of the island.
  • As of December 31, 2023, HDFC Bank’s distribution network was at 8,091 branches and 20,688 ATMs across 3,872 cities or towns.
  • About 52 per cent of its branches are in semi-urban and rural areas.
  • This new branch in Lakshadweep adds to HDFC Bank’s presence in diverse locations, from the cold climes of Kashmir to the southern tip of Kanyakumari.

Question:

Q.1 Where is the new HDFC Bank branch located in Lakshadweep?
a. Minicoy Island
b. Agatti Island
c. Andrott Island
d. Kavaratti Island
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