HDFC Bank inks MoU with Sanasa Insurance
HDFC Bank CEO and GM Nimal Mamaduwa exchanges copies of the
signed MoU with the General Manager of SANASA Insurance
Company, Indika Kiriwandeniya.
The HDFC Bank signed a Memorandum of Understanding (MoU) with Sanasa
Insurance Company Limited (SICL) relating to agro livestock insurance
The Bank changed it traditional business model in 2013 and embarked
on development banking products and among them HDFC Dirimaga
microfinance loan scheme and newly introduced Commercial Scale Dairy
Development Loan Scheme (CSDDLS) are popular in rural and semi urban
The bank expects that credit facilities at a concessionary rate of
interest under CSDDLS will help improve productivity of dairy farmers
from subsistence level to the commercial level.
Under this scheme, the maximum loan facility available is Rs. 25
million. Loans could be obtained from the 33 branches of the HDFC Bank.
Dairy farmers of the HDFC Bank under the CSDDLS could obtain
insurance cover from SICL at a low premium with suitable and affordable
schemes of risk coverage.
HDFC Bank is actively involved in development banking and plans to
strengthen this further by targeting local entrepreneurs in SMEs who
contribute significantly to the national economy.