Under its plans to increase the retail base in India, HDFC Bank Ltd is to open another 100 branches in this fiscal, taking the total network to around 300 by March, and set up 1,500 point of sales (POS) every month in the country.
"India has one of the fastest growing retail sectors in the world and we wish to cash in on this opportunity by rolling out new initiatives," HDFC Bank Managing Director Aditya Puri said on Wednesday in Mumbai.
The company has opened 40 branches during the past three quarters, while the proposed branches would be opened in semi-urban areas and other geographies where the bank does not have a presence, he said.
The opening of branches would enable the bank to provide personal and vehicular loans, in turn, substituting the unorganised sector in the country, he said.
HDFC Bank is also planning to introduce over 1,500 POS every month in this calendar year, he said adding, the bank at present has around 24,000 POS in the country.
The bank would 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 planning to improve its sales, he said.
Meanwhile, the company along with Visa International launched 'NetSafe', a mode that enhances security for online transactions.
NetSafe eliminates the need to disclose credit and debit card numbers for online purchases, resulting in 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, he said.
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.
This card expires after 48 hours, minimising the risk or frauds that can be committed online, he said.
