HDFC Bank has announced to launch the “SmartHub Vyapar programme” & ‘AutoFirst’ app the following two initiatives/application to give a digital push to small business loans. The financial institution has onboarded over 2.7 million retailers and is buying 100 thousand retailers each month. HDFC Bank has plans to onboard 20 million retailers in three years. More than half of the newly onboarded retailers solely function by means of the app platform.
The financial institution now clocks not less than ₹1,000 crores in service provider loans each month and is wanting to triple the run fee. HDFC Bank can even launch a utility ‘AutoFirst’ that may provide totally automated auto loans.
SmartHub Vyapar programme:
The SmartHub Vyapar programme for retailers will probably be launched quickly. It is an app that bundles all cost platforms – playing cards, UPI, QR code, faucet pay and SMS-based funds.
Important takeaways for all competitive exams:
- HDFC Bank Headquarters: Mumbai;
- HDFC Bank Founded: August 1994;
- HDFC Bank CEO: Sashidhar Jagdishan;
- HDFC Bank Chairman: Atanu Chakraborty.