Bank to open 100 branches
7 February 2004
HDFC Bank has decided to open 100 branches this fiscal,
taking the total network to around 300 by March."India
has one of the fastest growing retail sectors in the
world and we wish to cash in on this opportunity by
rolling out new initiatives," says director Aditya
Puri, managing director, HDFC Bank.
company has opened 40 branches during the past three
quarters. The proposed branches will be opened in semi-urban
areas where the bank does not have a presence. This
will enable the bank to provide personal and vehicular
loans, substituting the unorganised sector in the country,"
bank will also increase the sales presence for credit
card business to around 22 centres in the country. HDFC
Bank has issued around 4,40,000 cards and is also targettinghigher
sales, he said.
bank, along with Visa International launched NetSafe,
a virtual credit card that enhances security for online
purchases. NetSafe eliminates the need to disclose credit
and debit card
numbers for online purchases, resulting in a "considerable"
reduction of online frauds," Visa International
deputy country manager (South Asia), Uttam Nayak said.
shopping online, a customer has to create a virtual
card by logging on to the HDFC Bank homepage and registering
with the site.
A virtual card for the required amount can be created
using the existing HDFC Bank credit or debit card and
purchases can be made online, he added.