HDFC Bank, Indian Oil Join Hands to Provide Banking Services in Rural Areas

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HDFC Bank has announced a tie-up with Indian Oil Corporation Ltd. where its rural petrol pump outlets Kisan Seva Kendras (KSKs) will act as the Bank’s Business Correspondents (BCs).

This is a first of its kind marriage of the strengths of a bank and an oil distribution company to make modern banking services available to the people residing in semi-urban and rural India that remain inaccessible by the current branch network. Beginning with Pilibhit, HDFC Bank plans to cover 1000 KSKs in a phased manner and each of these outlets will be able to serve around 1,500 customers.

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