KCCI, HDFC Bank explore new business opportunities

KCCI, HDFC Bank explore new business opportunities
GK Photo

Srinagar, May 6: Kashmir Chamber of Commerce and Industry (KCCI) team led by its senior vice president, Ashaq Hussain Shangloo, held a meeting with the Managing Director of HDFC bank, Shashi DharJagdishan at Srinagar.

As per the statement, the KCCI team felicitated the Managing Director HDFC. At the very outset, the HDFC – MD welcomed the KCCI team and thanked them for the opportunity of learning the perspective of trade, commerce, and industry.

Discussion on various banking matters was held in which senior officials of the bank also participated. The KCCI brought to his notice the negligible exposure of HDFC bank in advances and allied activities which he acknowledged and assured that soon a perceptible change will be noticed with respect to the increase in lending propensity of the bank. In this context, he said that the HDFC Country Credit Head will shortly undertake a visit soon and take forward the discussed issues.

"The team KCCI discussed the competitive rate of interest, reduction in working capital margin requirements, inventory funding/ channel finance, lending to the housing sector, introduction of interest-free products, greenfield projects, cold atmosphere projects, agricultural allied products, nominal working capital margins for Start-Ups, adequate facilities for export sector, introduction of full-fledged Inward/outward Forex operations, outreach about available products for small traders/businesses/retail."

The Managing Director thanked KCCI for bringing to his notice important matters which Bank will positively consider at the earliest, the statement said.

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