The sole private sector bank has a branch in the Union Territory is HDFC Bank, a private lender that started up shop on Kavaratti Island in Lakshadweep.
By providing a broad variety of services with an emphasis on personal banking and digital banking - which includes customized digital solutions like QR-based transactions for retailers - this branch seeks to improve the financial infrastructure in the Union Territory.
HDFC Bank maintains branches in the chilly regions of Kashmir, the southernmost point of Kanyakumari, and, as of late, the popular tourist destination of Lakshadweep island.
"We are reaffirming our commitment to providing our customers with exceptional convenience wherever they are," stated S. Sampathkumar, Group Head of Retail Branch Banking at HDFC Bank.
S. Sampathkumar expressed his excitement about meeting the financial requirements of Lakshadweep's individuals, families, and enterprises, being a dependable partner on their financial journey, and helping to further the island's general development.
In contrast to 7,183 branches and 19,007 ATMs spread over 3,552 cities or towns as of December 31, 2022, the HDFC Bank's distribution network has 8,091 branches and 20,688 ATMs spread across 3,872 cities or towns as of December 31, 2023.
Roughly 52% of its branches are located in rural and semi-urban regions. Furthermore, it employs 15,053 business correspondents, the majority of whom work in Common Service Centers (CSC).
