HDFC Bank has raised ₹5,000 crore by issuing bonds on private placement basis.
“The Bank has today issued and allotted 6.44 per cent unsecured, redeemable long-term, fully paid-up, non-convertible bonds in the nature of debentures on private placement basis. ₹5,000 crore (50,000 bonds of face value) ₹10 lakh each),” the bank said in a regulatory filing on Monday.
The country’s largest private bank plans to double its rural reach to two lakh villages, employing 2,500 people in the next six months.
HDFC Bank recently said that it will double its presence in the next 18-24 months through a combination of branch network, business correspondents, business facilitators, common service center (CSC) partners, virtual relationship management and digital outreach platform .
HDFC Bank said that after the expansion, the bank’s reach will reach one-third of the villages in the country.
Currently, the Mumbai-headquartered lender offers its products and services to small businesses in over 550 districts and is a leader in the expansion of banking services to Micro, Small and Medium Enterprises (MSMEs).
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