HDFC Bank Spearheads Rural Growth: Extends Animal Finance at Asia’s Largest Sonpur Cattle Fair in Bihar

PATNA – HDFC Bank, India’s leading private sector bank, announced its active participation in the renowned Sonpur Cattle Fair in Bihar. The bank has established a stall in Asia’s largest cattle fair to extend its animal finance products to the farmers and traders of Bihar.

In collaboration with the Department of Animal and Fisheries Resources, Bihar, the primary goal of this initiative is to facilitate local farmers in accessing convenient finance for purchasing cattle.

The Bank’s Animal Finance stand presents a diverse range of loan products tailored to meet the requirements of dairy farmers, small and marginal farmers, Farmer Producer Organizations (FPOs), and other rural entrepreneurs. The bank’s product portfolio includes various benefits, such as loans at affordable rates, flexible repayment options, swift approvals for eligible customers, loans secured against gold, government-sponsored schemes, social security schemes, and more.

Rahul Shyam Shukla, Group Head of Commercial and Rural Banking at HDFC Bank, commented on the occasion, stating, “The Sonpur Cattle Fair holds a rich heritage and profound connections with the local population. Our cattle loan product at the fair aims to provide farmers with high-quality cattle and financial resources to purchase and enhance their businesses. At HDFC Bank, we are committed to offering banking facilities to cattle owners, acknowledging the significant contribution of the dairy sector to farmers’ earnings and the agricultural GDP of the country. We express gratitude for partnering with the Department of Animal and Fisheries Resources, Bihar, to extend our rural outreach and make a meaningful impact on the lives of farmers, contributing to the overall development of Bihar.”

In Bihar, the Bank maintains a distribution network of 146 branches spanning 92 cities, catering to a total of 1,162 units.

As of September 30, 2023, the Bank boasts a comprehensive distribution network comprising 7,945 branches and 20,596 ATMs across 3,836 cities/towns nationwide, with 52% of its branches strategically located in semi-urban and rural areas. Additionally, the Bank collaborates with 15,352 Business Correspondents, predominantly operated by General Service Centres, to extend its offerings to more remote areas.