SRINAGAR, MAY 02: Stressing on the need of having more private players in banking sector in J&K, the Minister of Youth Services& Sports, IT and Technical Education Imran Raza Ansari said that the growing number of private banks increases the competition among them which eventually benefits the customer.
The Minister said this after inaugurating the 75th branch of HDFC bank here at Qamarwari.
Appreciating the role of the bank the Minister said that the banking sector plays an important role in the socio-economic development of State, and HDFC bank is marching towards the same in valley.
He said not only has the bank provided the job opportunity to the unemployed educated and talented youth, but people have also benefited from its easy loan facility.
The Minister was informed that post September 2014 floods the HDFC under its corporate responsibility distributed Rs 5.50 crore, among flood affected and adapted 15 schools for rehabilitation.
The bank with a high credit deposit ratio of 63 percent was established in 2005, and is presently serving more than two lakh customers at its 75 branches, the Vice President, HDFC bank, Zubair Iqbal informed the Minister.
2015 Kashmir Despatch