HDFC Bank, a well-established private bank, has rolled out an exciting nationwide campaign named “Renew Your Ride.”
Running for a week starting August 7, 2023, this initiative aims to assist transporters and contractors in acquiring pre-owned commercial vehicles and construction machinery.
With a special focus on rural and semi-urban areas, the bank intends to benefit around 50,000 transporters and contractors through this program.
This initiative is currently active in key cities including Bengaluru, Kolkata, Ahmedabad, Mumbai, Jaipur, Chennai, Prayagraj, Hyderabad, Indore, Delhi, Vadodara, Kochi, Jodhpur, Pune, Ludhiana, and Karnal.
During this campaign week, HDFC Bank plans to host events at major transport hubs across the nation, with the aim of enhancing its presence in the used commercial vehicle financing market.
Strategic Market Expansion
Rahul S Shukla, Group Head of Commercial & Rural Banking at HDFC Bank, expressed his enthusiasm, stating, “We are thrilled about this initiative, which allows our representatives to connect with customers even in remote areas.
This presents a wonderful chance for numerous drivers to become truck owners.
” Rajinder Kumar Babbar, Group Head of the Transportation & Infrastructure Finance Group at HDFC Bank, highlighted the significance of this effort, saying,
“This campaign not only lets us reach new customers but also boosts our share in this market segment.
It’s noteworthy that much of the financing in this category falls under the Priority Sector Lending.”
HDFC Bank’s Strong Footing
Holding a significant presence in the commercial transportation sector, HDFC Bank has been extending loans for the purchase of used commercial vehicles and construction equipment for the past two decades.
