Indore, M.p. India (PressExposure) February 24, 2011 -- HDFC Bank, second largest private bank in the country, organized a 'Coin Mela' at Ashok Marg Branch in Jaipur.
The Coin mela was inaugurated by Mr. B.P. Kanungo, Regional Director and Mr. Praveen Kumar, DGM, Issue Dept. RBI, Jaipur. The initiative was in conjunction with RBI's Clean Note Policy to provide fresh notes in exchange for solid ones.
HDFC Bank organized a total of 18 successive 'Coin Melas' in 16 cities in a single day, across the nation. Apart from the four metros namely; Mumbai, Delhi, Chennai, Kolkata, the mela also took place in semi-metros such as Ludhiana, Chandigarh, Lucknow, Patna, Indore, Ahmedabad, Bangalore, Hyderabad, Pune, Kochi and Gurgaon. People from all walks of life took advantage of the coin mela to exchange their soiled notes and old and disfigured coins. The Bank exchanged over 30.00Lakh worth of coins and currency notes during this exercise in Jaipur. A total of 1280.06 lakh were exchanged across the 18 locations.
Speaking on the occasion Mr. Pallava Rathore, State Head, Wholesale Banking Operations, Rajasthan said, "With the support of RBI the Coin Mela was organized at the Jaipur branch. The response to the 'Coin Mela' was positive and people expressed their appreciation."
About HDFC Bank
Promoted in 1995 by Housing Development Finance Corporation (HDFC), India's leading housing finance company, HDFC Bank is one of India's premier banks providing a wide range of financial products and services to its 19 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking. Within a relatively short span of time, the bank has emerged as a leading player in retail banking, wholesale banking, and treasury operations, its three principal business segments.
The bank's competitive strength clearly lies in the use of technology and the ability to deliver world-class service with rapid response time. Over the last 15 years, the bank has successfully gained market share in its target customer franchises while maintaining healthy profitability and asset quality.
As of December 31, 2010, the Bank had a distribution network with 1,780 branches and 5,121 ATMs in 833 cities.
For the quarter ended December 31, 2010, the Bank's total income was INR 63.57 billion (`6,357.8 crore) as against INR 49.34 billion (`4,933.9 crore) for the quarter ended December 31, 2009. Net revenues (net interest income plus other income) were INR 39.04 billion (`3,904.5 crore) for the quarter ended December 31, 2010, an increase of 25.0% over INR 31.23 billion (`3,123.0 crore) for the corresponding quarter of the previous year. Net Profit for the quarter ended December 31, 2010 was INR 10.87 billion (`1087.8 crore), up by 32.9% over the corresponding quarter ended December 31, 2010.
The Bank's total balance sheet size increased by 22.1% to INR 2498.20 billion (`249,820.0 crore) as of December 31, 2010. Total deposits were INR 1922.02 billion (`192,202.0 crore), up by 24.2% over December 31, 2009.
Total income for the year ended March 31, 2010 were INR 199.80 billion (`19980.5 crore).
Leading Indian and international publications have recognized the bank for its performance and quality.
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