HDFC Bank launches Dhanchayat to educate borrowers
The Goan Network
PANAJI
To educate people about the perils of borrowing money from unorganised sources like money lenders, HDFC Bank launched a film called ‘Dhanchayat’ on Wednesday in Panaji.
This is a part of the bank’s corporate social responsibility (CSR) initiatives. Moneylenders often charge exorbitant rates of interest and conduct transaction in an undignified manner with the borrowers.
People living in urban areas are more aware of organised sources of finance like banks than people in villages. Considering this, the bank is focusing a lot on the rural population through this film, so that they too get educated about the malaise in the form of unorganised sources of finance.
Speaking at the launch, Jorge D’Costa, circle head, HDFC Bank said, “At HDFC Bank, we believe that to create real financial inclusion, we need to go beyond merely providing financial access. Our board-mandated objective to support inclusive growth cannot be achieved in an environment where misinformation and a lack of familiarity with organized finance is pushing people towards unorganized sources of finance. Through Dhanchayat, we hope to change this.”
HDFC Bank has branded Dhanchayat video vans, which were flagged off in Goa by Ramaswamy, regional director, of Reserve Bank of India (RBI) - Maharashtra & Goa. The bank will cover 83 villages in North Goa and South Goa.
Goa is the fifteenth state where the bank is rolling out this initiative of Dhanchayat. So far, it has been launched in Maharashtra, Punjab, Tamil Nadu, Gujarat, Uttar-Pradesh, Chhattisgarh, Karnataka, West-Bengal, Odisha, Telangana, Assam, Rajasthan, Kerala and Haryana
