HDFC bank launches awareness initiative ‘Dhanchayat’

HDFC bank launches awareness initiative ‘Dhanchayat’

SRINAGAR: The HDFC Bank Ltd Thursday launched ‘Dhanchayat’—an educational film for awareness about the dangers of borrowing money from unorganised sources.
The bank, in a release issued here, said the film has been launched “under the aegis of Swachch Banking, the Bank’s CSR initiative for rural India”.
“As part of Swachch Banking, which aims to raise awareness about clean and convenient banking, HDFC Bank-branded Dhanchayat video vans will travel across east, west, south, north and central India, covering thousands of villages across the country,” it said.
It said the bank, through the film, will showcase before rural populace the importance of transparency in dealings and the “dignity and self-respect” of the individual in the borrowing process.
The vans will stop at assembly points such as haats, bazaars, melas and village panchayats, it said.
The bank said it will cover 5,000 villages in phase 1 and encourage the local populace to join the organised banking sector in line with the government’s vision for financial inclusion.
The vans, it said, will also have micro-ATMs with biometric facility fitted in them to enable instant e-KYC and Re-KYC using Aadhar.
“The first van was flagged off by MD HDFC Bank Aditya Puri and Deputy MD Paresh Sukthankar from the bank’s headquarters in Mumbai,” the release said.
Speaking about the initiative, Sukthankar said, “The need of the hour is real financial inclusion, not merely financial access. It is a board-mandated objective at HDFC Bank to support inclusive growth.”
“We believe this cannot be achieved in an environment where misinformation and the lack of familiarity with organised finance are pushing people towards unorganised sources of finance. Through Dhanchayat we hope to change this.”