Need to move past Covid and uplift economic sentiment says HDFC Bank chief Aditya Puri

Mumbai: India’s longest serving bank chief on Wednesday said that there was a need to change the sentiment in the country and move past Covid while taking social distancing precautions. Puri also said that HDFC Bank was back to pre-Covid levels in terms of business operations.

“Very important to change sentiment right now, we have to move on in life with the requisite social distancing norms, we are optimistic about the future, HDFC Bank is back to pre-Covid levels there is no strain on our balance sheet and we have strong capital adequacy levels,” said Aditya Puri, MD, HDFC Bank.

Puri was speaking at the launch of their campaign Festive Treats 2.0 where the lender is offering numerous offers ranging from differential interest rate pricing to processing fee waivers. It has also tied up with more than 1000 retailers and manufacturers including Apple, Amazon, Byjus, Samsung among others.

“Last year we did highest ever business in our personal loans, two wheelers, credit card segment and this year we hope to surpass that,” said Parag Rao, Country head – Payments Business. “There is a lot of suppressed demand in the system and we are quite confident that customers will continue with spends during the festive season.”

HDFC Bank has also tied up with retail brands to offer discounts, cashbacks and extra reward points on both in-store and on-line purchases. Online majors such as Amazon, TataCliq, Myntra, Pepperfry, Swiggy and Grofers will offer special deals during this time. Leading retail and consumer brands like Lifestyle, Bata, Monte Carlo. Vijay sales, Kohinoor, GRT, ORRA are a few big names that will offer up to between 5% to 15% cashback on various products and services.

On all Apple products including the newest launches, HDFC Bank Customers can avail cashback of up to Rs 7000.

A shopper can avail of cashback of up to 22.5% and convert their purchases into a no extra cost EMI on leading brands such as Samsung, LG, Sony, Godrej and Panasonic.

The Bank is offering 50% off on the processing fees on auto loans, personal loans and business growth loans and zero processing fee on two-wheeler loans.


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