HDFC Bank to open 100 branches

Our Banking Bureau
07 February 2004

"The company has opened 40 branches during the past three quarters. The proposed branches will be opened in semi-urban areas where the bank does not have a presence. This will enable the bank to provide personal and vehicular loans, substituting the unorganised sector in the country," he added.

The bank will also increase the sales presence for credit card business to around 22 centres in the country. HDFC Bank has issued around 4,40,000 cards and is also targettinghigher sales, he said.

"The bank, along with Visa International launched NetSafe, a virtual credit card that enhances security for online purchases. NetSafe eliminates the need to disclose credit and debit card numbers for online purchases, resulting in a "considerable" reduction of online frauds," Visa International deputy country manager (South Asia), Uttam Nayak said.

For shopping online, a customer has to create a virtual card by logging on to the HDFC Bank homepage and registering with the site. A virtual card for the required amount can be created using the existing HDFC Bank credit or debit card and purchases can be made online, he added.