Tag: HDFC Bank

HDFC Bank and TD Bank Group sign an agreement to simplify banking experience for Indian students in Canada

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Telugu super news,Mumbai, March 22, 2024: HDFC Bank and TD Bank Group (TD) today announced an expanded relationship supporting Indian students planning to study in Canada.

With this agreement, TD and HDFC Bank are announcing a new referral program. HDFC Bank will refer students planning to study in Canada to TD’s International Student GIC Program, which enables studentsto conveniently comply with the Government of Canada’s Student Direct Stream (SDS) study permit pathway. This referral partnership builds on the two banks’ existing relationship where TD has acted as HDFC Bank’s main correspondent banking partner for Canadian Dollar clearing since 2015.

As part of the Canadian government’s requirements to apply for an expedited study permit, students are required to provide proof of financial support, which is accomplished via a Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution. The TD International Student GIC Program is designed to enable students to open accounts digitally and help them meet their study visa and living expense requirements.

HDFC Bank is India’s leading private sector bank. As of December 31, 2023, the Bank’s distribution network was at 8,091 branches and 20,688 ATMs across 3,872 cities / towns. TD is the second largest Bank in Canada and sixth largest in North America by assets, and serves over 27.5 million customers around the globe. TD has over 1,000 branches across Canada, with advisors speaking more than 80 languages, including Hindi, Punjabi, Tamil, Gujarati, and Urdu.

“We continue our focus on helping Indian students to navigate the process to study abroad,” said Mr. S Sampath Kumar, Group Head Retail Branch Banking, HDFC Bank, “Canada is a leading education market and our relationship with TD aims to simplify the process for students and Non-Resident Indians (NRIs) who want to study there.”

Ms. Smita Bhagat Group Head Retail Branch Banking, HDFC Bank further added, “The association is designed to support the study permit requirements of Indian students planning to study in Canada. The curated program also offers a wide range of financial benefits to amplify their living experience while studying there.”

In 2023, there were over 425,000 Indian international students with active study permits in Canada, making the country the top source for international students in Canada.

“We are thrilled to announce our expanded relationship with HDFC Bank, and the benefits it will provide for those beginning their journey to study here“, says Sona Mehta, Executive Vice President of Canadian Personal Banking, TD Bank Group. “With this expanded relationship, HDFC Bank and TD can provide the financial offerings that will make for a smoother transition to the Canadian banking environment. We look forward to welcoming and serving these students throughout their journey. We understand that there’s a lot to manage when coming to study abroad, and through this partnership, we will simplify the process, and deliver the ease, value, and trusted advice that TD is known for.”

The TD International Student GIC program will provide students with:

·        TD International Student GIC:

o   A GIC designed to meet the needs of the SDS program via a simple online application process.

o   Students incur no application fees.

o   Students will also start earning interest on their GIC even before arrival in Canada.

·        TD Student Chequing Account: A chequing account designed for students with no monthly plan fee (until 23 years old or with proof of enrolment in full-time post-secondary education), unlimited transactions and additional benefits.

·        Exclusive One-time credit: HDFC Bank customers will receive a fee rebate to cover their first wire payment into their TD account.

Once students arrive in Canada, they will benefit from the ease, value, and trusted advice TD is known for. The benefits under this Program will include:

·        Accessible Banking: TD has longer branch hours than any other Canadian bank, with over 1,000 branches coast to coast, and advisors speaking more than 80 languages. Banking services are also available online, as well as at your fingertips with the TD app.

·        Advice at the ready: Whether students are looking for expert advice on managing day-to-day expenses or long-term financial planning, TD colleagues are here to help, both in branch and over the phone.

·        TD International Student Banking Package: Students can get up to $635 CAD in value when they start by opening a TD Student Chequing Account.

HDFC Bank inaugurates 60 Banking Outlets pan-India, run by VLE’s across RBI notified Unbanked Rural Centers 

Telugu super news,India, March 21,2024: HDFC Bank, India’s largest private sector bank, today announced the inauguration of 60 Business Correspondent (BC) Banking Outlets across RBI notified unbanked rural centers (URCs) pan-India. These new outlets now increase HDFC Bank’s URC network presence to 5,020 outlets. Notably, 34% of the Bank’s BC Agent network now caters to providing formal financial products and services across 10,602 villages.

The initiative was undertaken in collaboration with CSC eGov. It will help deliver essential banking services to the last mile, directly through physical centres of village-level entrepreneurs (VLEs) acting as micro-entrepreneurs and in turn empowering communities in underserved regions. 

Customers will benefit from a comprehensive suite of Bank’s financial solutions including:

  • Convenient cash deposit & withdrawal through AEPS-enabled transactions
  • Neighborhood locations for EMI collection of loans
  • Government-backed social security schemes to create insurance safety net
  • Opening Bank accounts for directly receiving government scheme transfer benefits
  • Fixed and recurring deposit options for financial planning
  • Access to credit through loans like SLI and Kisan Gold Card to fulfil household aspirations.

Centre details:

SH NameConfirmation Status (No. of centres to be inaugurated)
Assam & Rest of NE7
CG8
MP2
Jharkhand6
Bihar6
Telangana & Andhra Pradesh10
Odisha10
Kerala11
Grand Total60

Speaking on the development, Ms. Smita Bhagat, Group Head, Retail Branch Banking-North, East & Central, ABCP & Retail FX, HDFC Bank said, “HDFC Bank is deeply committed to financial inclusion even in the remotest corner of the country. We are happy that a significant portion, nearly 34% of our BC network, operates within RBI notified unbanked rural centers (URCs). We aim to empower these communities and contribute to the government’s financial inclusion agenda by providing crucial financial solutions like AePS transactions, deposit services, government-backed insurance, and access to credit facilities.”

Mr. Sanjay Rakesh, MD of CSC, emphasized the importance of digital innovation by suggesting that the bank should consider introducing a diverse range of digital products and services at BC centers. This strategic move aims to provide comprehensive banking services directly to customers within the catchment area. Additionally, Mr. Rakesh advised VLEs operating as BCs at URC locations to maximize their revenue potential through the HDFC Bank and CSC partnership by offering relevant financial products and services to the local customer base.”

HDFC Bank’s Home Loan business demonstrates strong performance

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Telugu super news,India,February 21st 2024: HDFC Bank, India’s largest private sector bank, today shared an update on its Home Loan Business which has witnessed healthy growth post the merger of HDFC Ltd with itself.

Key facts:

  • Home Loan business experiences stable and healthy double-digit YoY growth for two quarters, ending December 31, 2023. The growth in sales turnover has come on the back of a wider distribution network
  • 3.6 % sequential growth as of December 2023; highest amongst peers in home loans
  • Turnaround time has been reduced to one third post-merger
  • Savings Accounts for incremental disbursals has moved to 80% from 35%. This sets the foundation for a stronger digital connect with incremental customers

The Bank’s market share has grown approximately by 18 % to 20 % on incremental disbursals, post the merger. It has exhibited robust and consistent higher double-digit, year-on-year growth across its Home Loan Business for the first six months, post the merger. On a sequential basis, the Bank has gained a leading position as it recorded a growth of 3.6% which was the highest amongst its peers in home loans.

The Bank’s fundamental strategy has been to improve the turnaround time of processing at front end. Post-merger turnaround time has reduced to almostone third. This coupled with the erstwhile HDFC Ltd.’s strength of connecting with customers in person is a potential game changer in terms of both sales turnover and cross- sell.

Added to this strategy is a renewed focus on the self-employed segment which will further increase opportunity size. Post-merger, the Bank has already launched and expanded its product basket through banking surrogates as well as GST programmes for better assessment of such profiles.

By mid-March, the Bank will be launching a seamless straight through journey for Home Refurbishment Loans which can become a strong product offering for customers. Also, by April 2024, the Bank proposes to launch a Home Saver product. This will lay a robust foundation for a lucrative offering to the existing and prospective home buyers. Despite a substantially larger book than peers, the Bank’s model is generating huge benefits on a monthly basis and its differentiated strengths are expected to generate substantial value for customers and the Bank in the future.

“One of the biggest opportunities was to generate CASA and initial signs are encouraging. Pre-merger about 30% to 35% of incremental disbursals were to customers with an HDFC Bank savings account. This has reached about 80% of incremental disbursals, post-merger. The Home Loan Business for the Bank has become both an asset and liability generator and is growing sizeably. This leads to a higher stickiness quotient and a stronger customer connect with the Bank for a longer duration.” says Mr. Arvind Kapil, Country Head – Mortgage Banking, Home Loan, LAP, HDFC Bank.

All this has been done without compromising on the Bank’s traditional underwriting standards. The foundation is now in place and the Home Loan Business is on its way to becoming a springboard for larger customer engagements. Current trends indicate interesting and encouraging signs that the Bank seems to be emerging as a preferred option for customers with higher credit scores which has exhibited a 10 %. growth, post merger.

On the operational front, the Bank will convert all erstwhile HDFC Ltd.’s service centres to branches in a phased manner and its entire mortgage team will also become relationship managers. The Bank has already commenced cross selling its products/services. through these  service centres from  February 01, 2024. As a part of enhancing the cross-sell strategy, home loan customers will be able to avail of a wide range of products/services like Consumer Durable Loans, Credit Cards, Wealth Advisory Product, Unsecured Loans and Home Refurbishment Loans. Going forward, cross-sell will be a continuing focus for both existing as well as new customers. The strength of this team is expected to be able to cross-sell at no incremental acquisition cost thanks to digital journeys.

The Bank believes that structural demand for housing will continue to be strong in the long run in India, due to a conducive environment. India is expected to have the largest working population by 2050, estimated at 900 million which is likely to give a major fillip to urbanisation in the country. This is projected to go up to 40% by 2030 from 34% today. Approximately, 80 million families are likely to move from rural areas to urban centres in the country increasing the need for housing. This is clearly an opportunity for the industry and HDFC Bank is well positioned to help fulfil the housing dreams of millions.

HDFC Bank Acts As a Sponsor and Destination Bank For Facilitating ASBA in Secondary Market

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HDFC Bank

Telugu super news,Mumbai, January 3, 2024: HDFC Bank, a leading Clearing and Settlement bank of NSE & BSE in the Cash & Equity Derivatives segments, acted as a Sponsor and Destination bank for “Trading supported by Blocked Amount in Secondary Market” that kicked off from January 01, 2024 on the Indian Stock Exchanges. 

SEBI and Stock Exchanges permitted Trading in Cash segment through block mechanism, on optional basis, for Secondary Market from January 1, 2024 on the lines of ASBA for Primary Markets where investor’s funds will continue to remain in their savings account with the required funds being blocked instead of the investor having to upfront transfer the amount to the broker’s account for placing the Trades.

HDFC Bank

The bank has been able to support this new initiative of SEBI through integration of its systems with that of Exchanges and respective Clearing Corporations. This system integration facilitates investor validation, block creation, release, revoke, execution and end of day reconciliation and reporting. The UPI backed technology solution of block / release of funds helps investors meet margin and settlement obligations seamlessly.

HDFC Bank, Reserve Bank Innovation Hub Launch i-Innovate  

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Telugu super news,India,December 6th, 2023: In a pioneering move towards fostering financial inclusion, HDFC Bank today announced its partnership with the Reserve Bank Innovation Hub (RBIH) to introduce i-Innovate, a nationwide initiative specifically designed to champion FinTechs focussing on differently abled persons. This initiative is singularly focussed on leveraging Assistive Technology (AT) to not only enhance, but also revolutionise the financial inclusion for differently abled persons.

RBIH, a wholly-owned subsidiary of the Reserve Bank of India (RBI), spearheads efforts to cultivate an environment conducive to innovation across the financial sector. HDFC Bank, under its CSR brand Parivartan, supports startups working in the social space through its Parivartan StartUp Grants programme. HDFC Bank and the Reserve Bank Innovation Hub have come together to leverage social innovation and entrepreneurship to bridge existing gaps and enhance financial accessibility for differently abled persons. Further, AssisTech Foundation (ATF) has been roped in as a supporting partner to contribute with expertise in innovating for this segment of the population, as well as provide specialised support in incubation, acceleration and nurturing startups in this space.

With more than 2.2% of the population falling under this demographic, i-Innovate aims to implement a range of programmes aimed at nurturing innovation and inclusivity within the financial sector for differently abled persons. This partnership will embark on an extensive journey to study today’s financial landscape, focus on identifying key market gaps and challenges at the intersection of assistive technology and finance. Additionally, various initiatives such as innovation challenges, hackathons, acceleration programmes, and awards will be rolled out to actively support and recognise startups dedicated to building solutions for the financial inclusion of differently abled persons.

Ms. Smita Bhagat, Retail Branch Banking Head, HDFC Bank said,“Nearly three-quarters of persons with disabilities reside in rural parts of the country. Persons with special needs in our country lack access to formal financial services. HDFC Bank is collaborating with RBIH to identify gaps in the adoption of financial service and innovate inclusive financial products that enable economic independence and empower persons with special needs. We are a Bank for all, and believe that financial inclusivity for persons with special needs is not a niche agenda; it is a catalyst for nationwide economic growth and innovation. Our goal is clear – to build a banking system that is as diverse as India itself.”

Ms. Shalini Sahay, Head – Corporate Communications, Marketing and Partnerships, RBIH said, “This partnership is a significant step towards innovation and inclusivity in finance. Through iInnovate, we commit to bring forth groundbreaking solutions at the intersection of assistive technology and finance.”

The official launch of i-Innovate took place on December 3, 2023, on the International Day of Persons with Disabilities. With the insights gained from this project, HDFC Bank and RBIH are committed to setting new benchmarks for accessibility in banking, striving to ensure that financial empowerment is attainable for all, irrespective of physical ability.

HDFC Bank was adjudged ‘Best Private Bank for Education and Training of Private Bankers (Asia) and Private Bank for Growth Strategy (Asia)’at the Global Private Banking Awards 2023

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Telugu super news,November 24,2023:Published by the Financial Times – the world’s leading global business publication – Professional Wealth Management (PWM) specializes in analyzing the growth strategies of Private Banks and the regional financial centers in which they operate. The Global Private Banking Awards have firmly established themselves as the world’s most prestigious private banking awards and are now in their fifteenth year. Submissions are assessed by an independent panel of esteemed industry judges based in North America, Asia, Europe, and the Middle East.

The judges citation stated that they were impressed by HDFC Bank’s growth strategy last year, which led to a significant boost of its client base and considerable expansion of its Hub and Spoke locations across the country, coupled with innovative investor education initiatives. The judges also rewarded the Bank for its various education and training programmes for relationship managers, carried out in partnership with academic bodies, such as the Indian Institute of Management (IIM), Ahmedabad, and Bangalore.

Mr. Rakesh K Singh, Group Head – Investment Banking, Private Banking, International Banking, Digital Ecosystems and Banking as a Service (BaaS), said, “We are proud to receive the recognition from Professional Wealth Management (PWM). This award is a testament to the team’s commitment and the trust HDFC Bank enjoys from its clients.  At HDFC Bank Wealth, we are firm believer that India possesses an investment potential beyond metros and semi-metros.

We are committed to democratise investments and making the best of investment products available to all. In our endeavour to develop investment markets across the country, we will continue the investor education initiatives by focusing on Mass Affluent and Super Affluent clients.  Our ongoing investments in human capital, technology and enhanced customer experience will act as a catalyst in this endeavour. We also, believe that a well-informed investor possesses a greater ability to ‘Protect- Manage-Grow’ his/her investments”. 

HDFC Bank Marks International Fraud Awareness Week with a Conference to Educate Consumers on Safe Digital Banking Practices

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Telugu super news,New Delhi, November 16, 2023: HDFC Bank, India’s leading private sector bank, hosted a one-day conference on ‘Banking/Financial Cybercrime Prevention and Detection’ in collaboration with Indian Institute of Public Administration (IIPA), to commemorate International Fraud Awareness Week (IFAW). This is the 4th year in a row that HDFC Bank has been actively contributing to Cyber Fraud Awareness during the IFAW.

Through this conference, HDFC Bank aims to provide a platform for experts, practitioners, policymakers and stakeholders to share their insights, experiences and best practices on cybercrime prevention and generate concrete and actionable recommendations for enhancing cyber security and resilience.

The Conference was attended by eminent dignitaries from the Ministry of Electronics and Information Technology, IIPA, Ministry of Home Affairs, Ministry of Finance, Indian Cybercrime Coordination Centre (I4C), National Cyber Security Coordinator (NCSC), CERT-in, Delhi Police, Haryana Police, Uttar Pradesh Police and senior officials from leading banks and financial intermediaries.

Shri S N Tripathi DG, IIPA (Retd. IAS) said, “In the digital age, the battle against cybercrime requires a united front. Collaboration and awareness should be our strongest shields. By encouraging this kind of collaboration and recognition, we can fortify our defenses and work towards a secure and resilient financial landscape. We are positive that this initiative will strengthen dialogues and to come up with recommendations to enhance cybersecurity that can protect individuals and organizations from the increasing menace of cybercrime. Let us stand together against cyber threats, ensuring the safety and trust of individuals and organizations alike.”

Speaking on the occasion Mr. Prashant Mehra, Group Head, Retail Portfolio Management and Fraud Control, HDFC Bank said, “Cybercrime is a serious threat to the privacy and well-being of individuals and organisations as well as to national security. It is imperative to raise awareness on cyber frauds and HDFC Bank’s ‘Stay Safe, Stay Vigil’ campaign is yet another initiative by the Bank to do so. HDFC Bank has been conducting Cyber Fraud Awareness Workshops under the Secure Banking initiative at various locations across the country over the past four years. The Bank has also been educating people about safe banking practices that would protect them from being victims of fraud. Through this conference our aim is to foster dialogue and collaboration among the participants and to generate concrete and actionable recommendations for enhancing cyber security and resilience.”

On the sidelines of the conference, HDFC Bank unveiled industry’s first transaction verification method which operates over WhatsApp. This allows verification without voice information by customers. This will be launched for customers before the end of the year.

During the event, experts shared insights and laid emphasis on building a robust and secure financial eco-system which can proactively detect and combat digital frauds. The sessions stressed on the importance of cybersecurity awareness and customer protection; strategy to deal with mule accounts by banks; use of technology in predictive modelling on cyber frauds.

According to National Crime Records Bureau, Ministry of Home Affairs, more than 52,900 cyber-crime cases were registered in 2021 in India. Out of this approx. 60% cases pertained to financial frauds. In a presentation DoT stated that cybercrime will cost the world $ 17.65 trillion by 2025. Hence it is imperative to take collective and coordinated actions to prevent and combat cybercrime. Through this conference HDFC Bank’s aim is to foster dialogues among various stakeholder and policymakers to generate actionable recommendations for enhancing cyber security and resilience for the benefit of customers.

As a part of fraud awareness initiatives, HDFC Bank observes the first Wednesday of every month as the ‘Cyber Jagrookta Diwas’ and organises workshops for its branch banking staff covering different aspects of safe digital banking practices. The Bank had launched the “Mooh Band Rakho” campaign in FY21 to increase awareness on all types of frauds and the importance of not divulging confidential information, in order to prevent falling prey to fraudsters.

Over the past four years, HDFC Bank has conducted over 10,000 Cyber Fraud Awareness Workshops as part of its Secure Banking Initiative to promote safe digital banking practices. These workshops are aimed at educating customers, law enforcement agencies, senior citizens, Self-Help Groups, educational institutions, vendors, partners and employees, among others.

The Bank encourages customers to take a pledge to adopt safe banking habits while transacting digitally and avoid sharing their confidential banking information with anyone. It educates them on the need to refrain from clicking unverified links. In case a customer fall prey to frauds, they must get in touch with their respective branch immediately and call 1930 (Helpline number by National Cybercrime Reporting Portal).

‘Iss Tyohaar No Intezaar’HDFC Bank Launches Festive Treats

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HDFC Bank

Telugu super news,India, october 25th, 2023: HDFC Bank, India’s largest private sector bank, announced the launch of its annual campaign – Festive Treats with superfast banking services and 10,000+ offers on Cards & EASYEMI. After four successful campaigns, the theme for this year is “Iss Tyohaar No Intezaar”, which means that there is no waiting this festive season. Besides offering instant services, the Bank will be running a host of offers across Accounts, Loans, Cards, EASYEMI, Consumer Loans, Cardless EASYEMI, and other products to make shopping during this festive season enjoyable and accessible for all consumers.

Under Festive Treats, all existing and non-bank customers, including salaried individuals and business owners, can avail the offers. The Bank is offering XPRESS Loans at discounted interest rates and processing fees for houses, vehicles, businesses, personal needs, and more. Further, the Bank has exclusive tie-ups with top brands and merchants like Apple, Samsung, LG, Sony, Haier, HP, Acer, IKEA, Home Centre, Amazon, Lifestyle, and many other platforms. Besides, customers have a chance to save up to Rs. 50,000 using HDFC Bank Cards & EASYEMI options on Cards & Consumer Loans.

Mr Ravi Santhanam, Chief Marketing Officer, HDFC Bank said, “The Festive Treats campaign embodies our dedication to spread happiness during this celebratory season. The wait for attractive deals and offers is over. Through our advanced instant digital solutions, customers can seamlessly access banking services online to fulfill their wishes. The campaign slogan “Iss Tyohaar No Intezaar,” symbolises festive cheer along with ease and convenience. We wish all our consumers a happy festive season!”

Annexure:

Offers on XPRESS Loans*

ProductOffer
XPRESS Home Loan·        50% off on processing fee·        Interest rate @8.35% p.a.* onwards
XPRESS Car Loan·        Interest rate @8.80% p.a. onwards*·        Zero foreclosure charges
XPRESS Pre-owned Car Loan·        Interest rate @11.25% p.a. onwards*·        Zero foreclosure charges
XPRESS Personal Loan·        Interest rate @10.50% p.a. onwards*·        Loan up to Rs 40 lakh·        Quick approval
XPRESS Business Loan·        50% off on processing fee·        Loan up to Rs 75 lakh·        Quick approval
XPRESS Two-Wheeler Loan·        Instant approval·        EMIs starting @Rs 37/1,000·        Up to 100% funding
Gold Loan·        50% off on processing fee·        Low interest rate·        Overdraft and balance
transfer facility
XPRESS Loan Against Securities·        Interest rate @10.75% onwards*·        Flat processing fee of Rs 999+ tax
Loan Against Property·        Loan tenure up to 15 years·        Flexible repayment·        Dropline Overdraft Available
EASYEMI on Consumer Loans and Cardless EASYEMI·        Save up to Rs. 10,000 with EASYEMI on Consumer Loans & Cardless EASYEMI·        Pay in parts up to 30 months with Consumer Loans and Cardless EASYEMI
EasyEMI on Debit /Credit Cards·        Save up to Rs. 27,500 with EASYEMI on Debit / Credit Cards·        Pay in parts up to 48 Months with EASYEMI on Debit / Credit Cards
XPRESS Loan on Credit Card·        50% off on processing fee*·        No documentation·        Instant disbursal

Merchant Offers*

Merchant NameOffersApplicable on 
Samsung Mobile·        Get up to Rs 12,000 cashback on Cards·        Up to 30 months long tenure on Consumer LoansHDFC Bank Credit Cards, EASYEMI on Debit/ Credit Cards/ Consumer Loans 
Apple·        Save Up to Rs. 10,000 on Apple range of products·        Get up to 30 months long tenure on Consumer Loans and Cardless EASYEMIHDFC Bank Credit Cards, EASYEMI on Debit/ Credit Cards/ Consumer Loans and Cardless EASYEMI
Amazon·        10% instant discount with EASYEMI
on Cards·        10% cashback with Cardless EASYEMI		EASYEMI on Debit/ Credit Cards and Cardless EASYEMI
MakeMyTrip·        On domestic flights flat Rs 2,000 discount·        On international flights flat
Rs 7,500 discount		HDFC Bank EASYEMI on Debit / Credit Cards
Reliance DigitalSavings up to Rs 10,000HDFC Bank EASYEMI on Consumer Loans and Cardless EASYEMI 
CromaSavings up to Rs 10,000HDFC Bank Credit Cards, EASYEMI on Debit/ Credit Cards/ Consumer Loans and Cardless EASYEMI 
Vijay SalesSavings up to Rs 10,000HDFC Bank EASYEMI on Consumer Loans and Cardless EASYEMI
Lifestyle10% Instant DiscountHDFC Bank Credit Cards and EASYEMI on Credit Cards
Home Centre10% Instant DiscountHDFC Bank Credit Cards and EASYEMI on Debit/ Credit Cards
IKEAUp to Rs. 5000 cashbackHDFC Bank EASYEMI on Consumer Loans 
GRT JewellersUp to Rs. 5000 Instant DiscountHDFC Bank Credit Cards
Brands like HP, Asus, Bose, Honor, Realme etc,.Up to Rs 4000 cashbackHDFC Bank Cardless EASYEMI 

HDFC Bank Launches XpressWay: The Fastest Way To Bank

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Telugu super news, Mumbai, 20 October 2023:HDFC Bank, India’s leading private sector bank, launched XpressWay, a digital platform offering banking products and services, enabling customers to experience the fastest way to bank. 

XpressWay offers an array of services, including Xpress Personal Loan, Xpress Business Loans, Xpress Car Loan, Xpress Home Loan, Xpress Loan on cards, Xpress Credit Card, Xpress Savings Accounts, service journeys and more, designed to cater to diverse customer needs. These products and services are meticulously designed to deliver fast, seamless, paperless, and do-it-yourself customer journey, for both existing and new customers. Launched during the festive season, it is even more exciting as it also allows customers to indulge in festive season shopping with greater ease of access to finance.  

“XpressWay signifies HDFC Bank’s commitment to customer-centric innovation, offering a digital ecosystem that empowers our customers with swift, paperless, and self-service banking. As we launch this platform during the festive season, we aim to enhance the joy of celebrations. With XpressWay, HDFC Bank opens the door to a faster, more convenient, and enjoyable banking experience,” said Mr. Parag Rao, Country Head – Payments, Liability Products, Consumer Finance & Marketing, HDFC Bank. 

XpressWay is a part of HDFC Bank ‘NOW’, an umbrella brand for the Bank’s digital products and services. 

For further information about XpressWay and to experience high-speed banking please visit [https://v.hdfcbank.com/festive-treats/index.html].

HDFC Bank unveils 3 innovative digital payments products on UPI

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Telugu super news, Mumbai, September 20, 2023:HDFC Bank, India’s leading private sector bank, announced the launch of three innovative digital payments products on UPI (Unified Payments Interface). These innovative solutions are set to redefine the way customers and merchants engage in seamless transactions:

·       UPI 123Pay: Payment via IVR

·       UPI Plug-In Service for Merchant Transactions

·       AutoPay on QR

Parag Rao, Country Head of Payment Business, Consumer Finance, Technology, and Digital Banking at HDFC Bank, commented, “These innovative products represent the future of digital payments.

UPI 123Pay makes it possible for anyone in India, regardless of their phone type, to effortlessly make payments using a simple phone call, without requiring internet connectivity or a smartphone.

UPI Plug-In Service aims to provide a seamless and frictionless payment experience, eliminating the need for customers to switch between merchant and payment apps when paying on UPI.

AutoPay on QR enables seamless recurring payments through UPI QR and aims to transform various use cases, including OTT platforms, audio subscriptions, newsletters, and other digital subscription services Together, they signify a transformative leap in digital payments.”

Advantages for customers:

·       UPI 123Pay: Payment via IVR

o   Convenience: Customers can effortlessly book and pay for any service through an interactive voice response system (IVR). HDFC Bank has empowered Indane Gas customer regardless of their phone type, to effortlessly book and pay for their gas cylinders using a simple phone call, without requiring internet connectivity or a smartphone.

o   Time saving: The process is efficient, saving customers valuable time during gas bookings.

·       UPI Plug-In Service for Merchant Transactions

o   Smooth transactions: Customers experience smoother and faster transactions when making purchases from participating merchants.

·       AutoPay on QR

o   Simplified subscriptions: Customers can easily subscribe to digital services for themselves, friends, and family.

o   Security: High-security standards ensure customer transactions are safe and protected.

These innovations underscore HDFC Bank’s commitment to redefining the convergence of banking and technology.

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