HDFC Bank, the private lender announced the launch of ‘Dhanchayat’, an awareness initiative. It is a film that is created by the bank to raise awareness and educate about the risks of borrowing cash from unorganized sectors. This film is especially aimed to those in the rural areas in the country.
The ‘Dhanchayat’ film was introduced in Punjab. It has been released under the guidance of ‘Swachch’ Banking, the latest CSR initiative taken by the Bank lately. Through this film, HDFC Bank will showcase the significance of transparency in the financial dealings to the rural population.
As a part of this initiative, the ‘Dhanchayat’ video vans will be let to travel across the villages in the country. It has been made clear that the North, South, East, West and Central parts of India will be covered.
These vans will stop at the assembly points such as village panchayats, melas, bazaars and haats, stated the press release made by the bank. Currently, HDFC Bank rolled out this initiative already in the state of Maharashtra. The second state to get the same is Punjab.
The ‘Dhanchayat’ vans were flagged off from here by the Branch Banking Head at HDFC Bank, Govind Pandey. At the national level, the HDFC Bank will cover almost 5,000 villages in the phase 1 of the ‘Dhanchayat’ initiative. It will encourage the rural population to become a part of the organized banking sector. This objective of HDFC seems to be in line with the vision of the government for the financial inclusion.
Regarding the same, Pandey stated that the board at the bank mandated the objective of supporting the inclusive growth. This growth cannot be achieved when there is misinformation and lack of familiarity in the environment. He further stated that the organized finance is gradually pushing people towards the unorganized sources of finance. He said that the HDFC Bank is aiming to change this with the ‘Dhanchayat’ initiative.