Calcutta, Aug 17: HDFC Bank is planning a dialogue with the RPG Enterprise flagship, CESC Ltd, for introducing a system of collection of electricity bills of the power utility's consumers over telephone or through automated teller machines (ATMs).The bank, promoted by Housing Development Finance Corp in strategic alliance with Natwest Markets, corporate and investment banking arm of UK-based National Westminister Bank plc, relocated one of its branches in the city and on Monday launched its operations at the new location which is larger than the previous one.
According to managing director Aditya Puri, HDFC Bank has been appointed clearing bank for the Calcutta and Ahmedabad stock exchanges. It is also the margin money banker to Bombay Stock Exchange and clearing bank for the National Stock Exchange.
In addition to this, Puri said, the bank will introduce Internet banking services by year-end and launch debit card shortly. The bank has recently entered into retail banking of products and services likebroker funding, loans against shares and started offering overdraft facilities.
The bank has also launched car loan and salary loan schemes in Mumbai, Puri said.
The bank has 44 branches all over the country. It is planning to introduce a new electricity bill payment plan for its customers. The bank has around 35,000 customers at its five branches in Calcutta.
Puri said the bank is planning a dialogue with CESC for introducing this facility to its customers. Under this plan, CESC and HDFC Bank's common customers will be able to pay their electricity bills over the telephone or through ATMs.
This type of facility is available to the Mumbai-based power utility, BSES Ltd, and Maxtouch for payment of cellular telephone bills.
Puri said that despite the general slowdown in the economy, the bank has shown a growth rate between 20 and 25 per cent. He pointed out that increased geographical coverage, increase in the number of customers and addition of new products have contributed to the growth rate.
Theminimum quarterly balance requirement is Rs 5000 for a savings bank account. The bank's press release says services like an ATM card come free with every savings account.
The bank has very low non-performing assets at 1.24 per cent which mainly consists of defaults by corporates.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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