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New Delhi, Feb 18 () HDFC Bank, <keyword id="6368201" type="COMPANY" weightage="20" keywordseo="mastercard">Mastercard</keyword> and SAP <keyword id="623784" type="COMPANY" weightage="20" keywordseo="Concur">Concur</keyword> have joined hands for spending management services for the corporate sector. HDFC Bank will offer a corporate credit card for business travellers, providing a one-stop solution for payment and expense management during business trips, said a release on Tuesday. "The corporate credit card will enable seamless integration of all business-related spend into SAP Concur offerings, enhancing employee experience, increasing visibility, saving money, and improving corporate efficiency," it said. The card is supported by Mastercard. SAP Concur is a travel, expense, and invoice management solutions provider. <keyword id="4724185" type="PERSON" weightage="20" keywordseo="Parag-Rao">Parag Rao</keyword>, country head (payments business and marketing) of HDFC Bank, said, "Corporates can gain greater insights and control, while ensuring regulatory and tax compliance through this solution. Together with SAP Concur solutions, we aim to reinvent the way Indian corporates experience business travel." Mankiran Chowhan, managing director (Indian subcontinent), SAP Concur, said that by automating and integrating travel, expense, and invoice management, the company is helping customers build an intelligent spend management platform. "This enables them to uncover valuable spend data, simplify processes, and make smart decisions. Using our joint solution, organisations can make strategic decisions based on insights unique to their business and gain a consolidated view of their budget, drive control on how employees spend money, automate payments to speed up processing, and ensure compliance and data accuracy," Chowhan said. Porush Singh, division president (<keyword id="52011" type="LOCATION" weightage="20" keywordseo="South-Asia">South Asia</keyword>), Mastercard, said the new corporate card solutions allow access to enhanced features for traveller convenience and increased protection against fraud including in-built proprietary tools . "It will help to capture and consolidate accurate financial reporting to enable deep analysis for greater cost savings," Singh said. KPM HRS

HDFC Bank, Mastercard, SAP Concur join hands to manage spending in corporate sector

Mumbai, Jun 17 () India's largest private sector lender HDFC Bank on Wednesday said its consumer finance loans are growing and the amount disbursed has got back to the pre-Covid levels of Rs 1,000 crore a month. The city-headquartered lender's country head for consumer finance Parag Rao said changes in lifestyle due to aspects like lockdowns and work from home has created additional demand for items such as television sets, laptops, Wi-Fi routers and even vacuum cleaners, which the bank is funding at present. It can be noted that driving consumption demand in the economy has been one of the toughest challenges which policymakers are grappling with, and economists have expressed concerns about the same. Acknowledging that a part of the traction being witnessed by the bank is pent-up demand, Rao said there is a "set of consumer appliances where demand is going up". In April, the consumer finance business had fallen by 80-85 per cent and recovered to the March levels in May, even though the non-lockdown conditions prevailed for only ten days. Rao, who also heads the credit card and payments verticals, said traditional high ticket expenditures in categories like air tickets and hotel bookings is not present as the services continue to be shut and it will take time for the same to jump back to the old levels. From an expenditure perspective, shares of small value transactions have gone up as a share of the overall pie, Rao said. As against 8-9 per cent earlier, the small value spends of up to Rs 500 generally made for daily errands now account for nearly a fourth of the overall card spending on the reduced denominator, Rao said. "People are pulling out their cards for more number of occasions and hence, activity on cards has gone up," he said. The upcoming fintech players are competitors but not disruptors, he asserted, adding that emergence of newer players helps broaden the market opportunity. "The yeoman's job which this competition is doing is I think it is expanding the market," he said. He said HDFC Bank is a full service bank offering an entire suite of products, including payments and deemed to suggest sustainability is important for the lender. "Sustainable market leadership is not just about throwing cashbacks or having the best customer experience. It involves all of it but also means that in your business model you value sustainability," he said. AA MKJ

Consumer loans disbursement back to pre-Covid level: HDFC Bank

Mumbai, Jun 5 () Private lender HDFC Bank on Friday launched a special consumption-oriented initiative for its customers, as the country begins to opens up after more than two months of lockdown. Christened 'summer treats', the initiative includes offers for merchants, salaried and self-employed for adjusting to new normal and deals on products, financial services and digital payments, according to a statement. The bank said efforts to curb the spread of the coronavirus have changed consumer demands and lifestyles, and pointed out to increased demand for phones, tablets, computers and related accessories. "There's also rising demand for finance from auto loans and personal loans to business finance schemes. Summer Treats has offers to support all these new requirements," the bank's Country Head for Payments, Consumer Finance, Digital Banking and Marketing, Parag Rao, said. * * * * * * Future Generali simplifies claims process for Cyclone Amphan victims *Private insurer Future Generali India Life Insurance Company on Friday said it has simplified its claims process to provide support to the families of the victims of the recent Cyclone Amphan in West Bengal and Odisha. The company said it will accept the list issued by the state governments or newspaper cutting stating the death details, letter issued by local authorities confirming death due to Covid-19 or any other valid proof which can be accepted, Future Generali said in a statement. The private insurer will not insist on the original policy document, in case the same is lost during the cyclone and will admit claims based on Indemnity for loss of policy document, it added. It has given the option to its customers to submit the other documents through digital mode or file claim form through digitized mode, it said. AA SM MR MR

HDFC Bank launches special consumption drive for customers

There are six Assembly constituencies in the Mumbai North Central Lok Sabha constituency namely Vileparle, Chandivali, Kurla, Kalina, Vandre East, and Vandre West. The Kurla seat is reserved for SC candidates. The winner during the 2019 Lok Sabha elections from the Mumbai North Central constituency was Poonam Mahajan Alias Poonam Vajendla Rao of the BJP who secured 186,771 votes more than Dutt Priya Sunil of the INC. For the upcoming Vidhan Sabha elections 2019, The Congress Party and BJP are fielding Jayanti Jivabhai Siroya and Adv. Parag Alavani from the Vile Parle seat. The Chandivali seat will see Mohd Aarif Naseem Khan of INC contesting. From the Kalina constituency, Shiv Sena is fielding Sanjay Putnis against INC’s George Abraham. Mangesh Kudalkar will field for Shiv Sena from the Kurla seat. INC is fielding Zishan Ziyauddin Siddiqui and Asif Ahmed Jakeriya from Vandre East and Vandre West respectively. From Vandre West BJP is fielding Adv. Ashish Shelar. The election date for Maharashtra assembly is October 21, 2019 and the counting date is October 24, 2019. During the 2014 assembly elections, BJP’s Parag Alavani won the seat from the Vile Parle constituency by securing 32435 more votes than Shashikant Govind Patkar of SHS. The Chandivali winner was Khan Mohd. Arif (Naseem) of INC who bagged 29469 votes more than Singh Santosh Ramniwas of SHS. Kurla (SC) seat winner was Mangesh Kudalkar of SHS. He secured 12679 votes more than that of Vijay Baburao Kamble of BJP. From the Kalina seat, Sanjay Govind Potnis of SHS secured 1297 votes more than the BJP candidate Singh Amarjeet Awadhnarayan and won the seat. The Vandre East constituency winner was SHS candidate Prakash (Bala) Sawant who secured 15597 votes more than Krishna Dhondu Parkar of BJP. From the Vandre West seat, Av. Ashish Shelar of BJP got 26911 votes more than the runner up candidate of INC Baba Ziauddin Siddique and became the MLA.

Vileparle, Chandivali, Kurla, Kalina, Vandre East and Vandre West vidhan sabha election results and candidate Names

<ul><li>The global oil price crashing to a new low has cost Indian fresh graduates their jobs. </li><li>Energy major <keyword id="161205" type="COMPANY" weightage="20" keywordseo="Schlumberger">Schlumberger</keyword> revoked the job offers extended to the Indian Institute of Technology (<keyword id="6354859" type="UNKNOWN" weightage="20" keywordseo="IIt">IIT</keyword>) graduates. </li><li>Two of the selected graduates from IIT Kanpur and Madras have now been offered a similar role — but at a lower salary. </li><li>The oilfield services multinational said that it is adjusting to the ‘sudden reduction in consumer spending’. </li><li>This comes after the company announced its first quarter results for FY21 and said that it expects at least a 15% drop in customer expenditure globally. </li></ul>The global <a href="https://www.businessinsider.in/business/news/crude-oil-prices-didnt-fall-below-zero-futures-did-and-heres-what-it-means/articleshow/75264639.cms">oil price crashing</a> to a new low has cost Indian graduates their jobs. Impacted by the decline in oil demand due to <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> lockdown, energy major Schlumberger revoked job offers extended to the Indian Institute of Technology (IIT) graduates. The oilfield services multinational said that it is adjusting to the ‘sudden reduction in consumer spending’. The company had given job offers to candidates at least five IITs. On April 6, Schlumberger told IITs that it will reduce the intake of new campus hires, withdrawing a few internships and job offers. “We will personally communicate our decision to each student who is affected by this decision,” Indian Express <a href="https://indianexpress.com/article/education/energy-major-schlumberger-withdraws-job-offers-to-fresh-iit-graduates-6373375/">reported</a> citing the letter by Gautam Reddy, MD, India and Bangladesh at Schlumberger. IIT graduates bagged ‘above-average salary packages’ this placement season According to the report, two students at IIT Delhi and Bombay have lost their jobs at Schlumberger. While two other selected graduates from IIT Kanpur and Madras have now been offered similar roles — but at lower salaries. Given the current situation, it does not help that most of the IIT graduates bagged ‘above-average salary packages’ this placement season. IIT Kharagpur students also bagged a few offers from Schlumberger. “As on date, none of the offers were revoked. That was a generic email. We haven’t heard back from them,” Parag Deshpande, vice-chairperson, CDC at IIT-Kharagpur said. “As of now we have withdrawn the offers. If the business climate changes, we will be the first to reach out to those who have been filtered through the whole recruitment process,” Reddy added. ‘We have to take care of our employees first’ Reddy also <a href="https://indianexpress.com/article/education/energy-major-schlumberger-withdraws-job-offers-to-fresh-iit-graduates-6373375/">said</a> that employees across the top management have already taken a pay cut due to the Covid-19 crisis. “We have a longstanding relationship with the IITs. I am from IIT-Bombay. Recruiting from IITs is a continuous process for us. At this point in time, when we are doing business restructuring, it’s just not fair to our current employees. We have to take care of them first. It’s as simple as this.” During the <a href="https://seekingalpha.com/article/4338898-schlumberger-earnings-expected-trouble-may-still-be-afoot">first quarter results for FY21</a> the company said that it expects at least a 15% drop in customer expenditure globally and 40% in North America. It clearly indicates how disruption in supply chain, plant shutdowns and dropping revenues forced companies to rethink placements. Gartner rescinds 11 offers at three IITs With this, Schlumberger joins Gartner, the global research advisory firm to withdraw offers given to new hires. Gartner rescinded nearly 11 offers at IIT Delhi, Madras and Kanpur campuses last month. After that, V Ramgopal Rao, director at the Indian Institute of Technology (IIT) Delhi <a href="https://www.businessinsider.in/careers/news/iit-and-iim-job-offers-are-fast-vanishing-and-a-second-placement-drive-in-july-might-be-underway/articleshow/75003350.cms">appealed to recruiters</a> saying “a few months of delay may be fine. If at all, these students are capable of getting you out of recession faster than you can imagine.” The changed environment left these young minds stranded with no job at hand. The institutes are now figuring out ways to place the students whose offers have been revoked. They are even reaching out to their alumni network to place students in the less-affected sectors. On the other hand, IIT-Kanpur director Abhay Karandikar also <a href="https://indianexpress.com/article/jobs/iit-iim-job-offers-placement-season-coronavirus-outbreak-lockdown-6346524/">said</a> that the institute will arrange a dedicated placement drive in July-August for those students who have been affected by the withdrawal of offers. See also: <a href="https://www.businessinsider.in/business/news/crude-oil-prices-didnt-fall-below-zero-futures-did-and-heres-what-it-means/articleshow/75264639.cms">Crude oil prices didn’t fall below zero, futures did – and here’s what it means</a> <a href="https://www.businessinsider.in/careers/news/iit-and-iim-job-offers-are-fast-vanishing-and-a-second-placement-drive-in-july-might-be-underway/articleshow/75003350.cms">IIT and IIM job offers are fast vanishing and a second placement drive in July might be underway</a> <a href="https://www.businessinsider.in/careers/news/tcs-cognizant-capgemini-and-other-top-giants-who-are-not-letting-go-of-their-new-hires/articleshow/75136446.cms">TCS, Cognizant, Capgemini and other top giants who are not letting go of their new hires</a>

Schlumberger revokes IIT job offers, lowers salaries after the massive crude oil price crash

From home sales and jewellery to power consumption, these are all the sectors that are back to pre-pandemic levels

Many Indian banks, including ICICI and SBI, are ready to take on a battle with non-bank companies offering <keyword id="6368227" type="UNKNOWN" weightage="100" keywordseo="Mobile-wallets">mobile wallets</keyword>. For this, they are armed with their readymade payment systems, a wide merchant network and an on tap customer base, with which they want to reclaim what was their territory just a couple of years ago. 
 
In the past one year, large lenders like ICICI Bank, SBI, Axis Bank and HDFC Bank have launched new payment instruments so that they can prevent their customers from moving money to these newly emerging non-bank companies. 
 These apps include SBI's Buddy, ICICI's Pockets, HDFC Bank's PayZapp and Axis' Lime, which are in the market to challenge <keyword id="6357120" type="UNKNOWN" weightage="100" keywordseo="PayTM">Paytm</keyword>, <keyword id="143842" type="UNKNOWN" weightage="100" keywordseo="Mobikwik">MobiKwik</keyword> and Citrus Pay. 
 
"It is an evolving space and the shift is towards digital transactions. None of us know the pace of the shift. Everyone is trying to experiment with the space," Axis Bank Chief Executive Shikha Sharma told ET. 
 
While on one side, wallets have spent millions of rupees to brand themselves and establish their presence in the market, banks are using their existing brand value to attract customers. 
 
"Investments in this business for us is in terms of deployment of resources as platform has been provided by our technology partner," said Manju Agarwal, SBI’s Deputy MD for corporate strategy and new businesses. 
 
Parag Rao, who heads cards and merchant acquiring at HDFC Bank, told ET that he has been leveraging the bank's merchant and customer base so that customers can be offered attractive discounts for users of PayZapp. 
 
"We want to facilitate all forms of transactions that the customer uses. In the physical world, the user can use the credit card and the debit card while in the mobile world he can use wallets," Rao said. 
 
Data from RBI show that the number of outstanding debt and credit cards have increased more than three times in the past six years. However, paying in cash is still people’s preferable option. 
 
"Banks are excellent settlement engines, but when it comes to user experience, we have been able to train 123 million people over the last five years to make digital transactions without glitches. People trust us with their money," said Nitin Mishra, head of products at Paytm, India's largest wallet company.

State-run banks don’t want you to use mobile wallets from non-banking players

You can now download a <keyword id="604216" type="UNKNOWN" weightage="60" keywordseo="mobile-phone-application">mobile phone application</keyword>, <keyword id="4919152" type="UNKNOWN" weightage="80" keywordseo="Payzapp">PayZapp</keyword> to make your online <keyword id="6515675" type="UNKNOWN" weightage="80" keywordseo="money-transfer">money transfer</keyword> much easier. The private lender, <keyword id="6357149" type="CITY" weightage="80" keywordseo="HDFC-bank">HDFC Bank</keyword> today launched the app that will revolutionize the way payments and purchases are done using mobile devices. 

	"Download this app (PayZapp, a payment solution) and pay with one click for all your spends, from mobile phone top-ups to instant money transfers, bill payments, groceries, movie tickets to even big-ticket purchases such as foreign holidays," PTI reported, quoting a statement by HDFC Bank. 
 <keyword id="2845432" type="UNKNOWN" weightage="80" keywordseo="SmartBuy">SmartBuy</keyword> will help drive the payment process through the PayZapp. The bank has tied up with <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword>, Cleartrip, Goibibo and Expedia for SmartBuy. Further, customers would be able to make money transfers, pay utility bills and recharge their mobile and Direct To Home (<keyword id="6411255" type="ORGANIZATION" weightage="80" keywordseo="DTH">DTH</keyword>) connections with just one click and a single PIN entry. 

	PayZapp does not require credit or debit card numbers and security codes to be entered for every purchase. There is no pre-paid card restriction on daily or monthly limits and no need to load money to pay, the bank said. 
 

	PayZapp is part of the bank's digital banking offering called 'GoDigital', which centres around the theme of "Bank aapki muthi mein". 
 

	"PayZapp is path-breaking. The customer will find that it is not only the #Powerofbanking which is in his muthi, but effectively the whole world," said Parag Rao, Business Head, Cards, Payment Products and Merchant Acquiring Services, in the statement.
 

	In 2014-15, 63% of all transactions at HDFC Bank are conducted through digital channels, it added. 

	 
	(Image: Indiatimes)

HDFC’s online payment App, PayZapp, makes payments a breeze

Riding on the rapidly growing number of <keyword id="414255" type="UNKNOWN" weightage="20" keywordseo="internet-users-in-India">Internet users in India</keyword>, the country’s second largest private sector lender <keyword id="6357149" type="CITY" weightage="20" keywordseo="HDFC-bank">HDFC Bank</keyword> on Friday launched a mobile phone application that will aggregate merchants' applications and allow users to <keyword id="482172" type="UNKNOWN" weightage="20" keywordseo="transfer-funds">transfer funds</keyword>, shop, pay utility bills, book tickets and recharge phones. This was revealed in an PTI report. 
 While launching the application, <keyword id="6406769" type="COMPANY" weightage="20" keywordseo="Aditya-Puri">Aditya Puri</keyword>, MD of HDFC Bank, said, "Our investors told us that banking will become obsolete and will be taken over by intermediaries. If they (intermediaries) were to do so sitting over my existing systems, why not have the capabilities myself as part of the digital banking?" 
 This app can be downloaded from the <keyword id="6369511" type="UNKNOWN" weightage="20" keywordseo="Google-Play-Store">Google Play Store</keyword> starting June 15. 
 Unlike prepaid wallets launched by its rivals or <keyword id="2897037" type="UNKNOWN" weightage="20" keywordseo="non-bank-companies">non-bank companies</keyword>, a customer's debit or credit card will be connected to the application and multiple transactions can be carried out on the same. A customer can transfer funds, <keyword id="2897038" type="UNKNOWN" weightage="20" keywordseo="recharge-mobiles">recharge mobiles</keyword>, <keyword id="3702907" type="UNKNOWN" weightage="20" keywordseo="pay-bills">pay bills</keyword>, <keyword id="2897039" type="UNKNOWN" weightage="20" keywordseo="do-travel-bookings">do travel bookings</keyword>, <keyword id="2897040" type="UNKNOWN" weightage="20" keywordseo="book-movie-tickets-and-order-food">book movie tickets; and order food</keyword>, <keyword id="2897041" type="UNKNOWN" weightage="20" keywordseo="grocery-and-music-using-this-app">grocery and music using this app</keyword>. Besides, one can also apply for loans, purchase insurance and can also seek investment advice from the bank via this app. 
 
While making any transactions, the payment amount will be debited directly from the user’s credit or debit card. To ease up the process further, HDFC Bank has done away with the need to key in the one-time password for such transactions. 
 
Parag Rao, HDFC Bank's senior executive vice-president, told PTI, “There are three levels of security, including device mapping and matching of the card number with the registered mobile number, which takes place at the backend to carry out a transaction.” 
 
He further added that the product is fully compliant with RBI's two factor authentication and has also been cleared by the regulator. 
(Image:

HDFC Bank comes out with aggregator app to ease payment pressure

If you are an HDFC customer, the bank is giving you more reasons to stick to it. Now the bank will be playing a double role of not only keeping your money safe but will also turn into a shopping mart, selling grocery, clothes, shoes and other products on its website. 
 The bank will also get best deals from eCommerce sites like <keyword id="541988" type="COMPANY" weightage="80" keywordseo="SnapDeal">Snapdeal</keyword>, <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> and <keyword id="18635" type="CITY" weightage="80" keywordseo="Amazon">Amazon</keyword> on its website. 
 
Keeping the fast-paced growth in eCommerce, a senior HDFC executive said it was a timely move by India's second largest private sector lender. 
 "We are a large retail and payment bank...about 30-40% of customer spends on eCommerce happens through our credit and debit cards," Parag Rao, senior executive Vice-President and business head (card payment products and merchant acquiring services) at <keyword id="6357149" type="CITY" weightage="80" keywordseo="HDFC-bank">HDFC Bank</keyword> told Economic Times. 
 
Rao informed that the bank would not sell products directly as it is against the rules. "We have tied up with partners in travel, bill payment, grocery, hotel and shopping who have their sites anyway," he told ET. 
 
Based on the customer feedback since past one year, HDFC has been working to launch SmartBuy, which will provide a platform to its customers to get better discounts and facilities at one place. 
 As per a PwC India report, <keyword id="35621" type="UNKNOWN" weightage="80" keywordseo="e-commerce">e-Commerce</keyword> spends grew at a compounded annual growth rate of 34% between 2009 and 2014 to touch $16.4 billion, adding the sector is expected to expand to $22 billion by the end of this year. 
 Meanwhile, taking note of the increasing importance of eCommerce companies, the Reserve <keyword id="6355303" type="CITY" weightage="60" keywordseo="Bank-of-India">Bank of India</keyword> (RBI) had asked banks to form joint ventures with them or appoint them as business correspondents. 
 
The RBI’s move to licence niche payment banks has also led to increased focus among banks on digital banking. 
 
"The increase in e-tailing is something that doesn't matter to banks. They want these transactions to be executed through their website so that they get the fee income," Ashvin Parekh, managing partner, Ashvin Parekh Advisory Services told ET, adding “they are just gearing up for payments banks.” 
 Banks like <keyword id="6653" type="CITY" weightage="60" keywordseo="ICICI-bank">ICICI Bank</keyword>, HDFC Bank and Axis Bank want to ensure their transactions are not routed to any third-party website, for if a payment bank comes and these are routed to its website these banks may lose customers," said Parekh. 
 
HDFC’s major profits come from fee income. Its other income, which includes fees and commission from offer of banking services, grew 29.9% to Rs 2,563.8 crore in the quarter to March, which led to a 20% growth in its net profit. 
 
"HDFC Bank is the largest acquirer (of customers) in the country and it cannot leave the acquisition space. Banks are just trying to pre-empt products that the payment banks would come up with," said Parekh. 
 
Aditya Puri, the Managing Director and Chief Executive Officer of HDFC Bank, has been pushing the digital initiative since December 2014, replicating the best practices of some of the global banks such as US-based Wells Fargo and Poland's mBank. 
 
(Image: Reuters)

HDFC Bank to turn into a shopping-hub. Find out how

<keyword id="6357149" type="CITY" weightage="100" keywordseo="HDFC-bank">HDFC Bank</keyword> is undergoing a massive digital transformation. As Managing Director <keyword id="6406769" type="COMPANY" weightage="100" keywordseo="Aditya-Puri">Aditya Puri</keyword> trots across metros stitching up a digital weave to bind 75,000-odd employees of the bank, he's generously helped by his five key lieutenants— Ravi Narayanan, Nitin Chugh, Head-Digital Banking, Arvind Kapil, Head-Unsecured Loans, Parag Rao, Head-Cards, Payments Merchant Acquiring Business and Navin Puri, Head-Branch Banking. 

	While Puri's lowdown on digital banking is restricted to around nine metro cities, the quintet very much has the onus of spreading the drive to branches in other cities and towns of the country, and wherever possible, evangelize the end user too. 
 

	Twenty years back, such excitement was palpable around ATM machines that were being launched by banks. Today, for HDFC Bank, going digital is a necessity. "We should be able to galvanize the entire force of the bank across verticals and build confidence wherein the staff would be able to talk to customers at large....it should result in behavior transformation, a change in their DNA," says Narayanan before dashing off to Vijayawada and Vizag to address a fresh crop of bankers from teller operators to sales people to credit card managers, and what have you.
 

	In fact, the bank's digital march coincides with non-banking players like Paytm entering the turf. Besides, "growth has been sluggish for HDFC Bank, which is being weighed down by its sheer size....so going digital is the only way it can earn a higher fee income, which today sits at roughly 18% of their net income," says an executive at Reliance Securities Research, requesting anonymity. "They want to improve their fee income without impacting their loan book profile."
 The digital transformation of HDFC Bank is unmistakable the moment one sets foot in its Mumbai-based headquarters and sees a hoarding next to the reception claiming the bank is now on <keyword id="6354427" type="CITY" weightage="100" keywordseo="Apple">Apple</keyword>'s iWatch, slated to launch in India next month. 

	Over the years, the bank has developed multiple platforms to enhance convenience for the end user. In 2013, for instance, it launched 'missed-call' banking in the hinterland, wherein the account holder had to just make a missed call in order to get a statement or check book delivered. That could well be the start of a journey.
 

	Next, HDFC Bank targeted netbanking and transactions multiplied, so much so that there are 175 such options available today. Owing to screen size restrictions, it took out a lighter mobile version just last year, which today sits as an app with as much as 80 transactions. In the month of March 2015, HDFC Bank recorded transactions worth Rs 6,031 crore on mobile banking, while for the entire banking system, transaction value was Rs 16,914 crore, according to the RBI data. 
 

	Today, as the bank readies for virtual banking, it stares at 4G and beyond with even smoother pipelines, where account holders will be subjected to zero buffering and have immediate interaction with a live bank representative, 24/7. That's the future the six top honchos at HDFC Bank are entrusted to pan out and Narayanan claims about 40% of the workforce has already been converted. 
 

	For the process to take root, organization behavior needs to recast, which is already a given through three internal committees—marketing, technology and operations—comprising 9-12 people, meeting twice a month. But what stirs action and maintains the bank is in sync with the latest tech trends are skip level reps in such committees. That explains why all new ideas are coming from millennials. 
 

	Take the mobile to mobile payment app, Chillr, the bank launched. Sources claim it has notched up almost 5 crore transactions within two months of its launch. Again, the company's mobile wallet PayZapp allows the end user access to recharge elements as well as a holistic marketplace experience by the way of offers/deals and access to online retailers. Even in the B2B space, the bank's eNet platform has been enhanced. Finally, urban adoption notwithstanding, it is the smaller towns where the bank is seeing significant traction.

	 
	 
	(Image credits: Indiatimes)

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