DHINDSA: Private banks to finance weaker sections

Chandigarh, November 22, 2012: With the cooperation of Punjab Government, HDFC bank has developed a unique business model to uplift the economically weaker sections by facilitating them for self-employment.

This was today disclosed by Parminder Singh Dhindsa, Finance Minister, Punjab after a high level meeting with the senior officers of the HDFC Bank here.

Dhindsa said that the Punjab Government has undertaken several steps to improve the economic status of the weaker section through its various schemes. He said that the Punjab Government too applauds unique plan of private banks to finance the weaker section for self-employment. He appealed to all private banks to start new plans and schemes to boost education and agriculture sectors.

Finance Minister said that during the meeting the need for funding the weaker sections on priority was discussed at length, which would enable the weaker sections to establish their own business. He said that it was also discussed that under comprehensive business model schemes and through micro financing, weaker sections could be extended the credit facility, besides imparting training for self-employment on lesser interest rate and marketing of their produce. Finance Minister said that the bank officers have assured to provide employment to 70,000 families within three years.

Dhindsa said that the bank has also assured that they would depute their Business Representative in every village, who would offer the mobile banking service for debit and credit besides providing other facilities. He further said that the bank officers have expressed their willingness to cooperate with the Punjab Government in all fields .